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As the pandemic forced national lockdowns and dampened trade, worries about a more inward and less open world have emerged. Still, experts see positive signs in China's stance against protectionism and efforts to deepen opening-up.

As the World Health Organization has stressed, China's extremely strong healthcare measures have given the world a window of opportunity to contain the virus. Similarly, China's economic stimulus and targeted measures are giving the world economy an opportunity to recover.

As the government vows to improve infrastructure and accelerate approval of projects, Liu said he expected the growth of infrastructure investment and FAI to pick up and stabilize in H2.

As this year is the final year of China's poverty alleviation campaign, the western region faces great pressure in reaching this goal, given that the remaining 52 poverty-stricken counties are all in the western region. Now, overcoming the negative impacts of the novel coronavirus outbreak and accelerating development in the region to help the impoverished are top priorities for the western region.

As to the massive trade deficits with China, they are the result of the evolution of the global distribution of industries and global value chains. China, as a main manufacturer of staple commodities, especially consumer goods, has advantages in labor-intensive industries compared with the United States.