US Marines Field Mobile 3-D Printing Machine Shop to Produce Spare Parts

The US Marine Corps developed a mobile three-dimensional printing facility to manufacture spare parts.

WASHINGTON (Sputnik) — The US Marine Corps said in a press release on Tuesday that engineers have developed a mobile three-dimensional printing facility, called X-FAB, to manufacture spare parts and to complement the transportable machinist shop that travels with expeditionary units.

“Shop Equipment, Machine Shop — also known as SEMS — is a deployable shelter equipped with a milling machine, lathe and other tools to quickly repair damaged vehicle parts, weapons and other equipment,” the release said. “The concept is to field X-FAB as a complementary capability for Corps’ intermediate-level maintenance shops that already use SEMS.”

The release described X-FAB as a self-contained, transportable three-dimensional manufacturing facility that will travel with Marine maintenance units.

Four three-dimensional printers, a scanner and computer-aided design software system are housed in the 20-by-20-foot collapsible shelter.

Marine Corps Installations and Logistics, Additive Manufacturing lead Lt. Col. Howie Marotto said that in a contested environment, where ships cannot easily land or airplanes cannot necessarily fly, Marines need a way to at least temporarily support themselves.

“The deployable X-FAB would give them another outlet to supply themselves until the regular logistics or supply chain can support them [ and] in some cases, they can even create a capability they did not have before, like 3-D-printed drones,” Marotto said.

The X-FAB facility is powered by a generator, and once it is assembled and fully equipped, it weighs is 10,500 pounds. The facility will be transported on a commercial flatbed truck, according to the release.

(Source: sputniknews)

‘Five Meters of Global Sea Level Rise Locked up in Antarctica’ – Glacier Expert

Geologists from Edinburgh University discovered almost a hundred previously unknown volcanoes beneath the ice cover of Antarctica. Dr. Robert Bingham, one of the authors of a new study, told Radio Sputnik whether the newly detected spitfire mountains are active and what impact the volcanic eruption would have for the continent.

A new study, performed by a team of Edinburgh University researchers, has revealed 178 cone-shaped structures in Antarctica. Hidden two kilometers below the ice, 138 of those structures are likely volcanoes, and 91 of the latter group are new to geologists. The height of the volcanoes ranges from a hundred meters up to almost four kilometers.

The scientists admit they know very little about the new volcanoes yet. Prior to the discovery, they were aware of only about fifty volcanoes on the continent.

“Before the study, what we knew about volcanoes in Antarctica was that they were at least located in two main locations. But we knew about those because they were sticking out from the ice,” Dr. Robert Bingham, one of the paper’s authors and a glacier expert at Edinburgh University, told Radio Sputnik.

The team analyzed a digital elevation model based on data gathered in previous surveys using ice-penetrating radars mounted on vehicles and aircraft. Scientists came up with a number of criteria to determine whether a certain geophysical structure might or might not be a volcano.

“So, what we’ve done in this study is actually use ice-penetrating radar data to look below the ice at the shape of the bed and assigned volcanic edifices… and the topography beneath the ice,” Bingham said.

It is so far not immediately clear how many of the volcanoes are active. If any of the newly-discovered volcanoes began erupting, it would have a dramatic effect on melting the ice.

“The big issue with west Antarctica is whether it’s stable or whether it’s going to start thinning, responding to the climate change and ocean change,” the expert noted. “And, with regards to these volcanoes, we already think it’s happening at the moment. There is a potential 5 meters of global sea level rise locked up in west Antarctica,” he added.

According to Bingham, the thinning of the ice is slow process but it’s happening none the less. “The issue with volcanoes is whether they could actually speed up that process,” the glacier expert said.

The highest level of volcanic activity currently observed in the world is in regions that have only recently lost their glacial cover. “There is evidence from other parts of the world — Iceland is one, Alaska is another — where there has been thinning ice and ultimately the disappearing of large ice cover,” he explained.

“The release of the pressure over the landscape has actually caused more volcanism,” Bingham continued. “If we get more volcanism in west Antarctica, it’s likely to generate more water and that’s something that’s likely to lead to the acceleration of the ice flow towards the oceans,” he said.

“The question is whether these almost hundred volcanoes are predominantly active or predominantly dormant. And that’s something we simply don’t know at the moment and that’s what we need to investigate,” the author of the study said.

To answer the question whether active volcanism is a wide spread phenomenon across Antarctica or whether it is actually a fairy isolated phenomenon, scientists need to conduct a more detailed study of these volcanic edifices.

“If we want to find out whether [these volcanoes] are active or not, we need to go to some of these places and investigate by [measuring vibrations], whether there is any significant activity going on,” Bingham told Sputnik.

The unveiling of new peaks has made west Antarctic area the densest region of volcanoes in the world. Dr. Robert Bingham has a possible explanation for such a high concentration of volcanoes in west Antarctica.

“I think the analogy is provided by a situation in east Africa where we have a hugely volcanic region — geologists will all know this is the East African Rift system. Big mountains like Kilimanjaro and Mount Kenya are large volcanoes that developed in a very similar geological context,” he claimed.

“Antarctica used to be joined to Africa many-many years ago, and I think the same process is going on in west Antarctica in terms of plate tectonics — which is when the land very slowly moves apart,” the expert continued.

Scientists also suspect there are even more volcanoes on the bed of the sea that lies under the Ross Ice Shelf, but it will take time to find out.

“On one level, we know the depth [of Antarctica] better than we ever have done before. But on another level, we don’t know fully the shape of the Antarctic bed at all. In some areas we simply have no data whatsoever,” Bingham said, adding that people have been trying to see through the ice for 40 years since radar was first developed.

“I would not be surprised if there are other surprises to be discovered under the ice,” the scientist concluded.

(Source: sputniknews)

Chinese student shares her experiences helping Syrian refugee children

A Syrian refugee child shows off her painting at a charity event in Amman, Jordan. Photo: Courtesy of Fan Yueying

A law student at Peking University, I started working to help Syrian refugee children in 2016 by organizing painting exhibitions featuring art from these children and forums on the Syrian refugee crisis in several cities around China. Through these public events, I have tried to raise people’s awareness about what they can do to help make a difference in the lives of refugee children.

This summer, I went to Lebanon, Jordan, Turkey and the Syrian borders with these countries to research the Syrian refugee crisis. During this time, I met with representatives from the UN and other international organizations and visited refugee camps and refugee communities. I also volunteered at orphanages in Turkey’s Hatay and Gaziantep provinces.

Generosity and humanity

“Why are you doing this?”

This is a question that I was asked often. The only way I can think to answer this is by sharing some of the things I saw and experienced during my time in the Middle East.

When I went to the refugee camps in Bekaa, Lebanon, I met a young girl with blue eyes and curly blonde hair. Her beauty contrasted strongly with her dilapidated surroundings.

“What happened in Syria wiped out our hope. We were scattered like birds. I want to return to Aleppo,” she told me.

In Beirut, Lebanon, I met a disabled Syrian boy selling red roses near the sea.

“Could you buy a rose?” he asked as he followed behind me. When I took a rose from his hand, the sea breeze brought to me the sound of happy children playing in the distance and the joyful voices of people celebrating a wedding. The little boy told me that when he was in Damascus, he would have to dodge sniper fire on the way to school and that he was injured when caught in the blast of a military bombardment.

The boy’s family crossed the border into Lebanon so they could find a place to live in peace, but instead were faced with a life of grueling hardship. They had no choice but to join the biggest population of refugees in the world. Lebanon is a small country of around 6 million people. Of these, there are more than 1 million Syrian refugees. There’s not a town, a city or a village, that is not host to a Syrian refugee. This showing of generosity and humanity is truly remarkable.

Preparing for the future

While picking up my luggage at the Istanbul Airport, I heard the sound of piano music drifting through the air. The tune immediately brought to mind images of a camel caravan traveling through the desert. Seeking the source of this magical sound, I saw a young man nearby concentrating on playing the piano.

“Bravo!” I said as I clapped my hands together.

“Thank you! This is a traditional Syrian song!” he replied.

As we talked for a little bit more, I learned that he had studied music in Damascus and was on his way to establishing himself as a musician, but is now struggling to make a living by performing at the airport.

In north Jordan, near the Zattari refugee camp, we visited several refugee families. Temporary simple rooms and tents had been built in the desert. Outside of them, I saw children were frolicking in the dust. As I handed out food, clothing and learning materials to the children, one little boy wearing a yellow shirt that said “Hear peace, see peace, say peace” refused to accept the study materials.

“I haven’t been in school for three years,” he said as he shrugged, helpless.

I didn’t know how to respond, but on the inside I was crying. I suddenly remembered a little girl with glasses I had met in the Mafraq refugee camp not to long before.

“I want to get education and be a good teacher in the future!” she told me, her eyes full of longing.

I think about what they have fled: destroyed buildings, industries, schools, roads and homes.

These will need to be rebuilt by architects, engineers and electricians. Communities will need teachers and lawyers and politicians interested in reconciliation and not revenge.

It is my hope that through education, these children will one day grow to become the people needed to rebuild what was once lost.

Sadly, they will have plenty of time to prepare for this day.

I used to think of being a refugee as a temporary state. But it turns out I was far from right. Research shows that refugees spend 17 years on average in exile.

Empathy and altruism

Refugees have a difficult time. They come to wherever they are from faraway parts of the world. They have experienced trauma. They’re often of a different religion.

These are the reasons why we should be helping refugees, even though there are some who cite these as reasons not to provide them aid and comfort.

We should also help them because of what it says about us. It reveals our values.

Empathy and altruism are two of the foundations of civilization. By turning that empathy and altruism into action, we end up living out up to a basic moral credo.

Despite our differences, we are all human beings.

When it comes to Syrian refugee children and their right to an education, young Chinese need to do more.

As for me, I will definitely continue devoting myself to helping them and trying to get the world to hear the voice of younger Chinese generations. As the famous Arabic saying goes: “Since we all came from dust, why can’t we grow roses together? ”

The author is a sophomore at the Law School of Peking University and co-founder of the Common Future Fund, a project jointly launched by the Chinese Initiative on International Law and the China Teenager and Children Foundation that focuses on providing volunteer services to Syrian refugees.

Source: Global Times

A Nixonian White House?

Trump’s recent bluster toward North Korea is competing with his rhetoric on domestic issues – this time on the Charlottesville riot, which has sent a shudder across a country struggling to come to terms with a reckless tycoon in the White House.

Notwithstanding the three deaths that occurred as a result of the rally, as well as Trump’s statement blaming “all parties” for the violence, Charlottesville would have still been jettisoned as another aberration fueled by the US president’s support for the far-right.

However, the acoustics of his rantings against North Korea – an issue that sent heads of state and think-tank experts into a frantic huddle – did not persuade him to immediately criticize the white supremacists.

To save the president some more disgrace, his aides were able to finally push him all the way to the White House from his golf retreat hundreds of miles away from the US capital.

Forced tirade

A wincing Trump on Monday finally condemned the violence by criticizing the Ku Klux Klan, neo-Nazis and white supremacists.

In typical Trumpesque fashion, the US president took on the media in New York City on Tuesday by retracting his so-called support for the far-right and ripping into what he called the “alt-left.” As a stony-faced White House Chief of Staff John Kelly stood cross-armed in the room, Trump even invoked the names of former US presidents George Washington and Thomas Jefferson — citing their slave-owning statuses.

That Donald Trump and his team pull different ways doesn’t surprise anyone anymore. Before his forced diatribe against white supremacists, Trump’s aides unsuccessfully tried to defend his initial remarks by saying that he had condemned the far-right.

The lingering fear of what’s coming next keeps triggering trepidation in the West Wing of the White House.

His recently fired communications director Anthony Scaramucci learned this the hardest way. Footage of a floundering Scaramucci lugging his baggage down aircraft steps proved allegorical.

Blast from the past

Analysts say the pandemonium under Trump largely resembles President Richard Nixon’s White House.

“Trump’s White House has striking similarities to how things were under President Nixon: both can be understood as chaotic and riddled with scandal, fuelled by each President’s own insecurities to criticism and leadership style,” said Steven Wright, Associate Professor of International Relations at Qatar University.

Trump fired Scaramucci ten days into the job, spawning a slew of parodies including a take on the 2003 romantic comedy How to Lose a Guy in 10 Days.

Scaramucci’s fate is the ultimate example of administrative bedlam in the hub of policy-making in a country looked up to (or was) for the quality of its governance.

It’s hard to believe that good governance has for years been the forte of a nation that is today struggling with creaky infrastructure and where a probe about a state governor ordering aides to block traffic on a major bridge had the press fulminating.

A semblance of decorum has quit the otherwise tranquil Pennsylvania Avenue building, the hub of policy making known to affect the world, besides America. At a time when Trump’s spokespeople have been changing as much as his scowl, Scaramucci’s ouster was the last nail.

Before the former Wall Street wheeler-dealer was fired, Reince Priebus had got the boot as the White House Chief of Staff. Priebus, who was cursed by a foul-mouthed Scaramucci in a press interview, became a moniker of Trump’s foibles.

“Trump refuses to listen to his advisers, believes in a Hegelian dialectic where there is a benefit to chaos and thinks anytime he is personally at the top of the media cycle is a good day,” said Barak Barfi of the New America Foundation, a US-based think-tank.

The fraying of the Oval Office will have its consequences on policy and administration. A presidential historian was recently quoted as saying that rumpus created by Trump affects morale at the executive level.

On Monday, Kenneth Frazier, CEO of pharmaceutical giant Merck, quit Trump’s manufacturing council in a protest against the president’s recent remarks that blamed “many sides” for Saturday’s violence.

Trump’s comeback on Twitter was unsurprising: ”Now that Ken Frazier of Merck Pharma has resigned from President’s Manufacturing Council, he will have more time to LOWER RIPOFF DRUG PRICES!”

Kenneth Plank, Chief Executive of athletic equipment maker Under Armour, followed in Frazier’s footsteps. And Intel CEO Brian Krzanich decided to do the same.

The father of public administration, President Woodrow Wilson, ruled the US during World War I and wrote a treatise – The Study of Administration – in which he floated the idea of policy-administration dichotomy.

“The main difference between Trump and Nixon is in foreign policy, as while Nixon was a gifted and able geostrategist, Trump’s policy is devoid of any concept of strategy,” said Dr Wright.

‘Manipulative tycoon’

The situation that Trump finds himself in could be the result of his own design, given his predilection for taking advantage of chaos to obfuscate administrative failings. The manipulative business tycoon inside Trump could prove to be his own nemesis.

Leading Indian psychologist and counselor Salony Priya said, “Trump excites people, but has little empathy. Hence, winning credibility is relatively low.”

“He has a very loud, strong personality, but low emotional quotient,” she added.

“He has little grasp of politics and eschews process for shock announcement. As long as no one can rein him in, the US will continue to dither,” said Barfi.

After firing National Security Advisor General Michael Flynn 24 hours into his job, Trump’s dismissal of Scaramucci seems less damaging.

Instead of working toward making ‘America Great Again,’ the US president threatens to undo whatever little was achieved by the previous administration. The US reputation of global leadership has taken a beating.

“Chaos in the White House, combined with Trump-style foreign policy, only serves to undermine US global leadership, and its ability to play that role meaningfully, in an era when it is badly needed,” said Wright.

The writer is a journalist based in the Middle East.

Source: Global Times

Expert: China should open market to country’s self-developed GM fish

(Photo/zgsc123.com)

China should promote market access to its self-developed genetically modified (GM) carp, said Zhu Zuoyan, a researcher and academician at the Institute of Hydrobiology under the Chinese Academy of Sciences, Xinhua reported on Aug. 14.

The academician made the statement against the backdrop of U.S. regulators’ decision to allow genetically modified salmon, making it the first GM animal destined for human consumption recently.

Zhu noted that China’s GM carp not only meet regulatory requirements of the U.S. Food and Drug Administration, World Health Organization, and Food and Agriculture Organization of the United Nations on GM animals, but have been comprehensively studied.

Zhu said relevant departments need to make regulations on market access to China’s genetically modified agricultural and animal products, and the government, research institutions, and the media should try to scientifically dispel public doubts about GM products.

Zhu’s team started researching GM carp in 1983 and published their achievement of successfully breeding the world’s first GM fish in 1985, three years before their Western peers.

As the transgenic salmon was injected with a gene from Chinook salmon, the carps bred by Chinese scientists were given a gene from grass carp to speed up growth. The growth hormone in grass carp is broken down into amino acids through cooking, thus causing no harm to human health.

The safety of the GM carp for food in terms of nutrients, toxicology, and sensitization was also assessed by the School of Basic Medical Sciences at Wuhan University and the China National Center for Food Safety Risk Assessment.

As for ecological concerns over the possible consequences of GM carp being introduced into wild, the team said that the carp are less likely to survive and will not dominate the population and influence the original ecosystem.

Food delivery boy admitted by Sichuan International Studies University

The Sichuan food delivery courier who was once an Internet phenomenon because of his English text messages to customers has been admitted by Sichuan International Studies University (SISU) after taking the self-taught examination for higher education.

The 18-year-old courier, Mao Zhaomu, on August 14 returned to the campus where he worked as a delivery boy, now as a student of the college.

Early this year Mao became an internet sensation for messaging customers in English. His story was widely reported by domestic media, attracting much public attention.

“I had to receive about two media outlets every day. I never expected such a big social impact,” Mao said.

Even so, he still kept his dream of learning English alive every day after finishing work. “We all respect people with dreams. I encouraged him every time I received my food from him,” a SISU student noted.

Mao struggled in science classes beginning in his middle school years, but he always excelled in English. Inspired by his English teacher who earned a university spot through independent study, Mao chose to formally drop out of high school. Ever since, entering SISU has been the young man’s target.

At the beginning of last March, Mao became a food delivery courier at SISU, all the while preparing for the college entrance examination.

Early last month, Mao stopped dispatching food and concentrated on preparations for the examination and college application. Today, his efforts have finally paid off. He received his admission letter from SISU on August 10.

Apart from his personal hard work, Mao also received assistance from an anonymous English teacher in Shanghai. The latter taught Mao through the Internet almost every day. Under his instruction, Mao’s English improved greatly.

“I am very grateful to my parents,” Mao said. His parents always supported his decision to go to university, though the family is not so well off financially. “I hope to make some money and take them to travel,” Mao noted.

Mao plans to pass the College English Tests and national examination for interpretation. His dream is to participate in an English talk show held by China Central Television, CCTV.

China’s high speed rail tech copied by foreign countries: experts

After China’s leading high speed rail became a major driving force for the country’s economy, some countries have started copying and replicating China’s technologies, bringing severe losses to the country, said experts with a branch of Shanghai People’s Procuratorate in an article published on the website of Procuratorial Daily on Aug. 16.

The rapid development of China’s high speed rail comes with the problem of IP protection. Ineffective protection of the core technologies will directly cause a negative impact on the sustainable development of the industry.

According to the article, it took China years to fully grasp the core technologies of high speed rail with limited resources. However, China has fallen into a “patent trap” set by some countries, since it had a poor record of IP protection.

Under the framework of the Belt and Road Initiative, China has been exporting its high speed rail technology. However, some countries are copying China’s technology through public documents and replicating it on their own land.

Some countries have even applied for the patents before China, in both their homelands and some foreign countries, causing great losses for Chinese high speed rail enterprises.

The article said the situation can be attributed to three main reasons: poor performance in patent registration and protection; lack of protection of business secrets; and ineffective preliminary work of intellectual property protection.

Currently, the exportation of China’s high speed rail technology has triggered IP protection issues, and it is urgent for related departments to offer support in this regard.

The experts suggest that comprehensive measures should be taken to cope with technical barriers of developed countries and copying by developing countries. China should accelerate related legal processes and conduct better patent examinations. In addition, enterprises should take steps to protect their own IP rights overseas.

Chinese car-hailing industry seeks overseas opportunities

Chinese car-hailing service providers are now seeking opportunities overseas given the increasingly stabilized domestic share and mature home market.

Shouqi Limousine and Chauffeur, one of the largest car-hailing companies in China, has expanded its business to 217 cities in 30 countries. Starting from September, the company will start operations in 1,500 cities in 130 countries.

Shouqi is not the first Chinese car-hailing company to offer services overseas. Two years ago, Chinese car-hailing giant Didi began its international expansion. After teaming up with Uber and complying with new regulations, international expansion has become one of Didi’s key strategies.

Didi invested $100 million in the Brazilian taxi on-demand service 99Taxis in January 2016. At the end of last April, Didi completed a new round of financing worth over $5.5 billion.

It is not a coincidence that Chinese companies are joining in the international competition, as new growth points and scenarios are needed for long-term development.

To some extent, it is now impossible to make new profits in the Chinese car-hailing market as huge potentials exist abroad, experts said.

However, Chinese firms still have a long way to go before they can compete overseas in temrs of marketing. This is because capital, operations, local policies, strategies, and restrictions need to be surmounted.

Hollywood film companies seek collaboration with Wu Jing after Wolf Warrior 2 becomes a hit

Many Hollywood film corporations are seeking collaboration with Wu Jing, director and actor in the Chinese film, Wolf Warrior 2, which recently broke many records, Guancha.cn reported on August 16.

American actor, Frank Anthony Grillo, most recently known for his role as “Big Daddy” in the 2017 mega-hit Chinese action movie, Wolf Warriors 2, said many famous Hollywood film corporations have expressed interest in collaborating with Wu Jing. Wu received 15 phone calls from the corporations asking if he spoke English.

“Wolf Warrior 2” tells the story of a former Chinese Special Forces operative’s adventure in Africa’s war-torn regions occupied by insurgents and mercenaries.

Total revenue from the film reached 4.7 billion RMB ($702 million) by August 16, becoming the first Chinese movie to be listed in the top 100 of the global box office. Maoyan, a major film database in China predicts that it will hit an about $798 million, surpassing “Harry Potter and the Prisoner of Azkaban” to rank 65th on the global list.

Although some American media made negative comments on the Chinese movie, saying it was a “publicity of nationalism,” most media, especially American “Variety,” pleaded for an objective view of Wolf Warrior 2’s success.

Frank Grillo noted that it was normal for a movie to arouse people’s national pride, and director Wu grasped the opportunity. He added that the well-made movie has proved again that Chinese heroic films have market potential; just like Wu Jing has huge potentials for personal development in the global film market.

As for different box offices and reactions to the movie in the U.S. and China, Frank Grillo stated that it just reflected the cultural difference. The film industries of the two countries are supposed to promote bilateral understanding and communication by producing better works, he said.

China largest holder of US Treasuries

Source: US Department of the Treasury Graphic: GT

The Chinese mainland has again become the largest foreign holder of US Treasury securities, pushing Japan down to second place, according to data revealed by the US Department of the Treasury on Tuesday.

Experts told the Global Times on Wednesday that the situation is a result of improved capital flows and expectations of the yuan strengthening against the US dollar. They added that China might further pump up its holdings of US Treasuries if these trends persist.

The US Treasury data showed that in June, China bought $44.3 billion US Treasury securities, bringing its total holdings of US bonds, notes and bills to about $1.15 trillion in total.

The Chinese mainland has been increasing its holdings of US Treasuries for six consecutive months.

Japan, which replaced China as the US’ biggest Treasury securities holder last October, sold about $20 billion of Treasuries in June. Its current holdings of US Treasuries amount to about $1.09 trillion.

The US Treasury data also showed that Hong Kong is currently the ninth biggest holder of US Treasuries, with its holdings reaching approximately $203 billion.

Buying in dollars

Zhou Yu, director of the Research Center of International Finance at the Shanghai Academy of Social Sciences, told the Global Times on Wednesday that China’s rising holdings of US Treasuries shows that the People’s Bank of China (PBC), China’s central bank, has been buying foreign currencies.

The PBC invests foreign currencies in overseas assets instead of depositing them in banks and buying US Treasuries is the most common investment channel for central banks around the world, Zhou added.

E Zhihuan, chief economist at Bank of China (Hong Kong), also told the Global Times on Wednesday that China’s recent moves to increase its holdings of US Treasuries is in line with the continuous rise of foreign reserves.

China’s foreign exchange reserves rose to $3.08 trillion in July after increasing for six straight months.

Zhou said that the PBC buys US dollars to help curb any depreciating trend in the yuan, as it can then sell dollars if the yuan is depreciating too much. The yuan has surged by about 4 percent in 2017, data from the PBC showed.

“Buying dollars is a good sign, given that the yuan had been bogged down in a depreciation cycle in recent years. But in the longer term, holding too much foreign currency reserves is not such a good thing as the yield from US Treasuries is not very high compared with other investment channels like stocks,” Zhou said.

E said that the rising yuan is a result of China’s economic data in 2017, which has been generally better than market expectations, and this has restored people’s confidence in the yuan.

“If China’s foreign reserves and the yuan’s exchange rate can remain stable, the Chinese government still has room to buy more US Treasuries in the future,” E noted.

Tan Yaling, head of the Beijing-based China Forex Investment Research Institute, said that China’s holdings of US Treasuries will be “periodical” subject to factors such as China’s internal economic structural adjustments and government policy.

Valuable asset

Tan said US Treasuries are still the best overseas asset channel for the PBC.

“US Treasuries have a stable interest rate between 2 and 5 percent. They are also safe, supported by the strong US economy and the prestigious US dollar. Liquidity of US Treasuries is also high, making this quite a flexible investment method,” Tan told the Global Times on Wednesday. The US had total GDP of $18.57 trillion in 2016.

Zhou also noted that individuals can invest foreign currencies in assets with greater yields as well as risks, but for central banks the liquidity and safety of their investment are more important.

He also noted that a weaker US dollar might cause the US Treasuries to shrink in value. “But we don’t need to worry about that now since the US government is raising interest rates.”

Source: Global Times