Two giant pandas made it to their new home at the Smithsonian National Zoological Park&nbsp;in Washington, D.C., United States. The pair arrived in the United States from China via a flight that landed at Dulles International Airport.

“ICYMI: Two 'treasures'&nbsp;arrived at the Zoo today! Join us in welcoming giant pandas Bao Li and Qing Bao, who entered Zoo grounds shortly after 11:30 a.m. today and are settling into their new homes at the David M. Rubenstein Family Giant Panda Habitat,” the Smithsonian National Zoo posted on X.

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🐼❤️🐼 ICYMI: Two "treasures" arrived at the Zoo today! Join us in welcoming giant pandas Bao Li and Qing Bao, who entered Zoo grounds shortly after 11:30 a.m. today and are settling into their new homes at the David M. Rubenstein Family Giant Panda Habitat. <a href="https://twitter.com/smithsonian?ref_src=twsrc%5Etfw">@smithsonian</a> <a href="https://t.co/gt8OfvpPXi">pic.twitter.com/gt8OfvpPXi</a>
— National Zoo (@NationalZoo) <a href="https://twitter.com/NationalZoo/status/1846306384616288259?ref_src=twsrc%5Etfw">October 15, 2024</a></blockquote>
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The zoo explained the meaning of the name of the male panda in a post on X: In Mandarin Chinese, "Bao" means 'precious' and 'treasure', while "Li" refers to vitality and strength. Put together, "Bao Li" means an active and vital power.

Also read |&nbsp;<a href="https://www.wionews.com/world/washingtons-national-zoo-set-to-receive-two-giant-pandas-from-china-767772">Two giant pandas arrive in Washington DC from China</a>

The National Zoo wrote while explaining the name of the female panda, “Qing Bao's name means 'green' and 'treasure' in Mandarin Chinese. 'Qing' evokes the lush and mountainous habitat of pandas. 'Bao,' which means 'precious' and 'treasure,' reflects how cherished and adored she is.”

The pandas will remain in quarantine for a month till they get acclimated to their new home and&nbsp;will be open to view for the public in January.

<h2>An agreement between China and US</h2>

The pandas will remain in the US for a decade-long breeding and research agreement between Beijing&nbsp;and Washington.&nbsp;

Although Bao Li was born in China, he is the offspring of Bao Bao, who was born in the same zoo in 2013. He is the grandchild of Mei Xiang and Tian Tian, who lived in the zoo for nearly 23 years but were moved to China last fall, where their youngest cub resides.

Also read |&nbsp;<a href="https://www.wionews.com/world/dog-mysteriously-climbs-to-top-of-455ft-great-pyramid-of-giza-gets-captured-by-paraglider-768051">Dog mysteriously climbs to top of 455ft Great Pyramid of Giza, gets captured by paraglider</a>

The species of panda are classified as “vulnerable” by the International Union for Conservation of Nature (IUCN). The research programs will play an important role in supporting their longevity.&nbsp;

Giant pandas have always been a symbol of friendship and peace between the two countries and used to be gifted as a goodwill gesture in earlier times. However, since the species became endangered in 1982, China has shifted to lending pandas to some countries for diplomatic reasons instead of gifting them.

(With inputs from agencies)

Two giant pandas made it to their new home at the Smithsonian National Zoological Park in Washington, D.C., United States. The pair arrived in the United States from China via a flight that landed at Dulles International Airport.

Two giant pandas made it to their new home at the Smithsonian National Zoological Park in Washington, D.C., United States. The pair arrived in the United States from China via a flight that landed at Dulles International Airport. “ICYMI: Two 'treasures' arrived at the Zoo today! Join us in welcoming giant pandas Bao Li and Qing Bao, who entered Zoo grounds shortly after 11:30 a.m. today and are settling into their new homes at the David M. Rubenstein Family Giant Panda Habitat,” the Smithsonian National Zoo posted on X. 🐼❤️🐼 ICYMI: Two "treasures" arrived at the Zoo today! Join us in welcoming giant pandas Bao Li and Qing Bao, who entered Zoo grounds shortly after 11:30 a.m. today and are settling into their new homes at the David M. Rubenstein Family Giant Panda Habitat. @smithsonian pic.twitter.com/gt8OfvpPXi — National Zoo (@NationalZoo) October 15, 2024 × The zoo explained the meaning of the name of the male panda in a post on X: In Mandarin Chinese, "Bao" means 'precious' and 'treasure', while "Li" refers to vitality and strength. Put together, "Bao Li" means an active and vital power. Also read | Two giant pandas arrive in Washington DC from China The National Zoo wrote while explaining the name of the female panda, “Qing Bao's name means 'green' and 'treasure' in Mandarin Chinese. 'Qing' evokes the lush and mountainous habitat of pandas. 'Bao,' which means 'precious' and 'treasure,' reflects how cherished and adored she is.” The pandas will remain in quarantine for a month till they get acclimated to their new home and will be open to view for the public in January. An agreement between China and US The pandas will remain in the US for a decade-long breeding and research agreement between Beijing and Washington. Although Bao Li was born in China, he is the offspring of Bao Bao, who was born in the same zoo in 2013. He is the grandchild of Mei Xiang and Tian Tian, who lived in the zoo for nearly 23 years but were moved to China last fall, where their youngest cub resides. Also read | Dog mysteriously climbs to top of 455ft Great Pyramid of Giza, gets captured by paraglider The species of panda are classified as “vulnerable” by the International Union for Conservation of Nature (IUCN). The research programs will play an important role in supporting their longevity. Giant pandas have always been a symbol of friendship and peace between the two countries and used to be gifted as a goodwill gesture in earlier times. However, since the species became endangered in 1982, China has shifted to lending pandas to some countries for diplomatic reasons instead of gifting them. (With inputs from agencies)

Watch: Pandas from China settle in their new Washington DC home

United States Trade Representative Katherine Tai on Thursday said that Washington will not hesitate to call out China`s coercive trade practices and added that Washington welcomes the trade competition but it must be fair.

Speaking before a committee hearing on the Biden administration`s trade policy agenda, Tai said, "We will not hesitate to call out China`s coercive and unfair trade practices that harm American workers, undermine the multilateral system, or violate basic human rights. We are working towards a strong, strategic approach to our trade and economic relationship with China."

"We welcome the competition. But the competition must be fair, and if China cannot or will not adapt to international rules and norms, we must be bold and creative in taking steps to level the playing field and enhance our capabilities and partnerships," she added.

This comes as the Biden administration is still evaluating China`s compliance to the trade commitments it made with the previous Trump era and added that those commitments will ascertain how Washington will move forward in its ties with Beijing.

Tai had said last month that, "We are in the process of examining performance and are scrutinizing all the aspects of what they have done and what they have yet to do and what they have not done at the levels that they promised."

"These promises and China`s ability to keep them ... will be a priority for us as we examine our options for engagement with China and all of our enforcement options."

In January 2020, China had agreed to buy at least USD 200 billion more in US goods and services over two years on top of its purchases in 2017. The Phase One deal was struck by former President Donald Trump after a tariffs fight that started between the two countries.

China imported about USD 100 billion of US goods - only 58 per cent of the actual targeted volume of USD 173.1 billion for 2020, in the first year of the arrangement, Sputnik reported.

Biden administration has had a rocky start in the US relationship with China, with officials from the two countries openly bickering before the media at a meeting in Alaska hosted by US State Secretary Anthony Blinken last month.

Both the countries have continued to tussle on issues about Hong Kong, Xinjiang, South China Sea, and the Indo-Pacific region. The only issue they partially seem to agree on is climate change.

United States Trade Representative Katherine Tai on Thursday said that Washington will not hesitate to call out China`s coercive trade practices and added that Washington welcomes the trade competition but it must be fair.

United States Trade Representative Katherine Tai on Thursday said that Washington will not hesitate to call out China`s coercive trade practices and added that Washington welcomes the trade competition but it must be fair. Speaking before a committee hearing on the Biden administration`s trade policy agenda, Tai said, "We will not hesitate to call out China`s coercive and unfair trade practices that harm American workers, undermine the multilateral system, or violate basic human rights. We are working towards a strong, strategic approach to our trade and economic relationship with China." "We welcome the competition. But the competition must be fair, and if China cannot or will not adapt to international rules and norms, we must be bold and creative in taking steps to level the playing field and enhance our capabilities and partnerships," she added. This comes as the Biden administration is still evaluating China`s compliance to the trade commitments it made with the previous Trump era and added that those commitments will ascertain how Washington will move forward in its ties with Beijing. Tai had said last month that, "We are in the process of examining performance and are scrutinizing all the aspects of what they have done and what they have yet to do and what they have not done at the levels that they promised." "These promises and China`s ability to keep them ... will be a priority for us as we examine our options for engagement with China and all of our enforcement options." In January 2020, China had agreed to buy at least USD 200 billion more in US goods and services over two years on top of its purchases in 2017. The Phase One deal was struck by former President Donald Trump after a tariffs fight that started between the two countries. China imported about USD 100 billion of US goods - only 58 per cent of the actual targeted volume of USD 173.1 billion for 2020, in the first year of the arrangement, Sputnik reported. Biden administration has had a rocky start in the US relationship with China, with officials from the two countries openly bickering before the media at a meeting in Alaska hosted by US State Secretary Anthony Blinken last month. Both the countries have continued to tussle on issues about Hong Kong, Xinjiang, South China Sea, and the Indo-Pacific region. The only issue they partially seem to agree on is climate change.

'US will not hesitate to call out China's coercive trade practices'

A sharp escalation in tensions with the United States has stoked fears in China of a deepening financial war that could result in it being shut out of the global dollar system - a devastating prospect once considered far-fetched but now not impossible.

Chinese officials and economists have in recent months been unusually public in discussing worst-case scenarios under which China is blocked from dollar settlements, or Washington freezes or confiscates a portion of China's huge US debt holdings.

Those concerns have galvanised some in Beijing to revive calls to bolster the yuan's global clout as it looks to decrease reliance on the greenback.

Some economists even float the idea of settling exports of China-made COVID-19 vaccines in yuan, and are looking to bypass dollar settlement with a digital version of the currency.

"Yuan internationalisation was a good-to-have. It's now becoming a must-have," said Shuang Ding, head of Greater China economic research at Standard Chartered and a former economist at the People's Bank of China (PBOC).

The threat of Sino-US financial "decoupling" is becoming "clear and present", Ding said.

Although a complete separation of the world's two largest economies is unlikely, the Trump administration has been pushing for a partial decoupling in key areas related to trade, technology and financial activity.

Washington has unleashed a barrage of actions penalising China, including proposals to bar US listings of Chinese companies that fail to meet US accounting standards and bans on the Chinese-owned TikTok and WeChat apps. Further tension is expected in the run-up to US elections on Nov. 3.

"A broad financial war has already started ... the most lethal tactics have yet to be used," Yu Yongding, an economist at the state-backed Chinese Academy of Social Sciences (CASS) who previously advised the PBOC, told Reuters.

Yu said the ultimate sanction would involve US seizures of China's US assets - Beijing holds over $1 trillion yuan in US government debt - which would be difficult to implement and a self-inflicted wound for Washington. 
But calling US leaders "extremists", Yu said a decoupling is not impossible, so China should make preparations.

HIGH STAKES

The stakes are high. Any move by Washington to cut China off from the dollar system or retaliation by Beijing to sell a big chunk of US debt could roil financial markets and hurt the global economy, analysts said.

Fang Xinghai, a senior securities regulator, said China is vulnerable to US sanctions and should make "early" and "real" preparations. "Such things have already happened to many Russian businesses and financial institutions," Fang told a June forum organised by Chinese media outlet Caixin.

Guan Tao, former director of the international payments department of China's State Administration of Foreign Exchange and now chief global economist at BOC International (China), also said Beijing should ready itself for decoupling.

"We have to mentally prepare that the United States could expel China from the dollar settlement system," he told Reuters.

In a report he co-authored last month, Guan called for increased use of China's yuan settlement system, Cross-Border Interbank Payment System, in global trade. Most of China's cross-border transactions are settled in dollars via the SWIFT system, which some say leaves it vulnerable.

RENEWED PUSH

After a five-year lull, Beijing is reviving its push to globalise the yuan.

The PBOC's Shanghai head office last month urged financial institutions to expand yuan trade and prioritise local currency use in direct investment.

Central bank chief Yi Gang said in remarks published on Sunday that yuan internationalisation is proceeding well, with cross-border settlements growing 36.7% in the first half of 2020 from a year earlier.

Still, internationalisation is hampered by China's own stringent capital controls. It could also face resistance from countries that have criticised China on matters ranging from the coronavirus to its clampdown on Hong Kong.

The yuan's share of global foreign exchange reserves surpassed 2% in the first quarter, Yi said. It also beat the Swiss franc in June to be the fifth most-used currency for international payments, with a share of 1.76%, according to SWIFT.

One way to accelerate cross-border settlement would be to price some exports in renminbi, such as a possible coronavirus vaccine, suggested Tommy Xie, head of Greater China research at OCBC Bank in Singapore.

Another is to use a proposed digital yuan in cross-border transactions on the back of currency swaps between central banks, bypassing systems such as SWIFT, said Ding Jianping, finance professor at Shanghai University of Finance and Economics.

China has fast-tracked plans to develop a sovereign digital currency, while the PBOC has been busy signing currency swap deals with foreign counterparts.

Shuang Ding of Standard Chartered said Beijing has no choice but to prepare for Washington's "nuclear option" of kicking China out of the dollar system.

"Beijing cannot afford to be thrown into disarray when sanctions indeed befall China," he said.

A sharp escalation in tensions with the United States has stoked fears in China of a deepening financial war that could result in it being shut out of the global dollar system - a devastating prospect once considered far-fetched but now not impossible.

A sharp escalation in tensions with the United States has stoked fears in China of a deepening financial war that could result in it being shut out of the global dollar system - a devastating prospect once considered far-fetched but now not impossible. Chinese officials and economists have in recent months been unusually public in discussing worst-case scenarios under which China is blocked from dollar settlements, or Washington freezes or confiscates a portion of China's huge US debt holdings. Those concerns have galvanised some in Beijing to revive calls to bolster the yuan's global clout as it looks to decrease reliance on the greenback. Some economists even float the idea of settling exports of China-made COVID-19 vaccines in yuan, and are looking to bypass dollar settlement with a digital version of the currency. "Yuan internationalisation was a good-to-have. It's now becoming a must-have," said Shuang Ding, head of Greater China economic research at Standard Chartered and a former economist at the People's Bank of China (PBOC). The threat of Sino-US financial "decoupling" is becoming "clear and present", Ding said. Although a complete separation of the world's two largest economies is unlikely, the Trump administration has been pushing for a partial decoupling in key areas related to trade, technology and financial activity. Washington has unleashed a barrage of actions penalising China, including proposals to bar US listings of Chinese companies that fail to meet US accounting standards and bans on the Chinese-owned TikTok and WeChat apps. Further tension is expected in the run-up to US elections on Nov. 3. "A broad financial war has already started ... the most lethal tactics have yet to be used," Yu Yongding, an economist at the state-backed Chinese Academy of Social Sciences (CASS) who previously advised the PBOC, told Reuters. Yu said the ultimate sanction would involve US seizures of China's US assets - Beijing holds over $1 trillion yuan in US government debt - which would be difficult to implement and a self-inflicted wound for Washington. But calling US leaders "extremists", Yu said a decoupling is not impossible, so China should make preparations. HIGH STAKES The stakes are high. Any move by Washington to cut China off from the dollar system or retaliation by Beijing to sell a big chunk of US debt could roil financial markets and hurt the global economy, analysts said. Fang Xinghai, a senior securities regulator, said China is vulnerable to US sanctions and should make "early" and "real" preparations. "Such things have already happened to many Russian businesses and financial institutions," Fang told a June forum organised by Chinese media outlet Caixin. Guan Tao, former director of the international payments department of China's State Administration of Foreign Exchange and now chief global economist at BOC International (China), also said Beijing should ready itself for decoupling. "We have to mentally prepare that the United States could expel China from the dollar settlement system," he told Reuters. In a report he co-authored last month, Guan called for increased use of China's yuan settlement system, Cross-Border Interbank Payment System, in global trade. Most of China's cross-border transactions are settled in dollars via the SWIFT system, which some say leaves it vulnerable. RENEWED PUSH After a five-year lull, Beijing is reviving its push to globalise the yuan. The PBOC's Shanghai head office last month urged financial institutions to expand yuan trade and prioritise local currency use in direct investment. Central bank chief Yi Gang said in remarks published on Sunday that yuan internationalisation is proceeding well, with cross-border settlements growing 36.7% in the first half of 2020 from a year earlier. Still, internationalisation is hampered by China's own stringent capital controls. It could also face resistance from countries that have criticised China on matters ranging from the coronavirus to its clampdown on Hong Kong. The yuan's share of global foreign exchange reserves surpassed 2% in the first quarter, Yi said. It also beat the Swiss franc in June to be the fifth most-used currency for international payments, with a share of 1.76%, according to SWIFT. One way to accelerate cross-border settlement would be to price some exports in renminbi, such as a possible coronavirus vaccine, suggested Tommy Xie, head of Greater China research at OCBC Bank in Singapore. Another is to use a proposed digital yuan in cross-border transactions on the back of currency swaps between central banks, bypassing systems such as SWIFT, said Ding Jianping, finance professor at Shanghai University of Finance and Economics. China has fast-tracked plans to develop a sovereign digital currency, while the PBOC has been busy signing currency swap deals with foreign counterparts. Shuang Ding of Standard Chartered said Beijing has no choice but to prepare for Washington's "nuclear option" of kicking China out of the dollar system. "Beijing cannot afford to be thrown into disarray when sanctions indeed befall China," he said.

In China, fears of financial Iron Curtain as US tensions rise

US&nbsp;Treasury Secretary Steven Mnuchin on Monday said companies from China and other countries that do not comply with accounting standards will be delisted from U.S. stock exchanges as of the end of 2021.

Mnuchin and other officials recommended the move to the U.S. Securities and Exchange Commission last week to ensure that Chinese firms are held to the same standards as U.S. companies, prompting China to call for frank dialogue.

Mnuchin told a White House briefing the SEC was expected to adopt the recommendations. "As of the end of next year ... they all have to comply with the same exact accounting, or they will be delisted on the exchanges," he said.

Also read:&nbsp;<a href="/opinions-blogs/us-china-trade-deal-what-were-the-key-issues-and-are-they-resolved-275073" hreflang="en">US China trade deal: What were the key issues and are they resolved?</a>

The recommendation is part of a push by the Trump administration to correct what it calls major imbalances in ties between the world's two largest economies. Tensions between the two countries have flared in past months over China's handling of the coronavirus outbreak, Hong Kong and human rights.

U.S. President Donald Trump said China was also failing to meet its commitments to buy more U.S. goods under a Phase 1 trade deal signed in January, although he said purchases should increase next year.

"We did a Phase 1 deal and it was a wonderful deal, and all of a sudden it means very little in the overall import of things," Trump told reporters.

He said increased purchases of U.S. goods required under the trade deal would "never pay for the loss of life in our country and all over the world."

Trump also repeated his calls for the World Trade Organization to stop treating China as a developing country, arguing that doing so gave Beijing unfair advantages over the United States and other countries.

China argues the classification is justified since many of its regions are still developing.

US Treasury Secretary Steven Mnuchin on Monday said companies from China and other countries that do not comply with accounting standards will be delisted from U.

US Treasury Secretary Steven Mnuchin on Monday said companies from China and other countries that do not comply with accounting standards will be delisted from U.S. stock exchanges as of the end of 2021. Mnuchin and other officials recommended the move to the U.S. Securities and Exchange Commission last week to ensure that Chinese firms are held to the same standards as U.S. companies, prompting China to call for frank dialogue. Mnuchin told a White House briefing the SEC was expected to adopt the recommendations. "As of the end of next year ... they all have to comply with the same exact accounting, or they will be delisted on the exchanges," he said. Also read: US China trade deal: What were the key issues and are they resolved? The recommendation is part of a push by the Trump administration to correct what it calls major imbalances in ties between the world's two largest economies. Tensions between the two countries have flared in past months over China's handling of the coronavirus outbreak, Hong Kong and human rights. U.S. President Donald Trump said China was also failing to meet its commitments to buy more U.S. goods under a Phase 1 trade deal signed in January, although he said purchases should increase next year. "We did a Phase 1 deal and it was a wonderful deal, and all of a sudden it means very little in the overall import of things," Trump told reporters. He said increased purchases of U.S. goods required under the trade deal would "never pay for the loss of life in our country and all over the world." Trump also repeated his calls for the World Trade Organization to stop treating China as a developing country, arguing that doing so gave Beijing unfair advantages over the United States and other countries. China argues the classification is justified since many of its regions are still developing.

Chinese firms that fail US accounting standards to be delisted as of 2022: Mnuchin

US Secretary of State Mike Pompeo met China's top diplomat, Yang Jiechi, in Hawaii on Wednesday, in high-level face-to-face talks amid tensions between the two strategic rivals.

The world's two largest economies have been at loggerheads over the handling of the coronavirus pandemic and China's move to impose security legislation on Hong Kong, among multiple points of friction that have worsened this year.

Pompeo has been forceful in his criticism of Beijing. This meeting was his first known contact with Yang since they discussed the coronavirus by phone on April 15, and their first face-to-face meeting since last year.

Neither side outlined an agenda for the Hawaii talks, but diplomats and other sources have said the meeting was requested by China.

Yang told Pompeo that Washington needs to respect Beijing's positions on key issues, halt its interference on matters such as Hong Kong, Taiwan and Xinjiang, and work to repair relations, China's foreign ministry said in a statement.

Pompeo stressed "the need for fully-reciprocal dealings between the two nations," US State Department spokeswoman Morgan Ortagus said in a statement.

He also stressed the need for full transparency and information sharing to combat the ongoing COVID-19 pandemic and prevent future outbreaks.

Hours after the meeting ended, China announced that its top parliamentary body will review draft Hong Kong national security legislation during a session that began on Thursday.

Earlier, foreign ministers of the G7 countries, including Pompeo, issued a statement calling on China not to follow through with the Hong Kong legislation, which critics call an assault on the territory's democratic freedoms.

US-China relations have reached their lowest point in years. In mid-May Trump, who has pursued a deal to end a damaging trade war he launched with China, went so far as to suggest he could cut ties with Beijing.

Among his criticisms of China, Pompeo has said it could have prevented hundreds of thousands of deaths from the global coronavirus pandemic by being more transparent. 
Trump has initiated a process of eliminating special US treatment for Hong Kong to punish China for curbing freedoms there, but has stopped short of immediately ending privileges.

(with inputs from Reuters)

US Secretary of State Mike Pompeo met China's top diplomat, Yang Jiechi, in Hawaii on Wednesday, in high-level face-to-face talks amid tensions between the two strategic rivals.

US Secretary of State Mike Pompeo met China's top diplomat, Yang Jiechi, in Hawaii on Wednesday, in high-level face-to-face talks amid tensions between the two strategic rivals. The world's two largest economies have been at loggerheads over the handling of the coronavirus pandemic and China's move to impose security legislation on Hong Kong, among multiple points of friction that have worsened this year. Pompeo has been forceful in his criticism of Beijing. This meeting was his first known contact with Yang since they discussed the coronavirus by phone on April 15, and their first face-to-face meeting since last year. Neither side outlined an agenda for the Hawaii talks, but diplomats and other sources have said the meeting was requested by China. Yang told Pompeo that Washington needs to respect Beijing's positions on key issues, halt its interference on matters such as Hong Kong, Taiwan and Xinjiang, and work to repair relations, China's foreign ministry said in a statement. Pompeo stressed "the need for fully-reciprocal dealings between the two nations," US State Department spokeswoman Morgan Ortagus said in a statement. He also stressed the need for full transparency and information sharing to combat the ongoing COVID-19 pandemic and prevent future outbreaks. Hours after the meeting ended, China announced that its top parliamentary body will review draft Hong Kong national security legislation during a session that began on Thursday. Earlier, foreign ministers of the G7 countries, including Pompeo, issued a statement calling on China not to follow through with the Hong Kong legislation, which critics call an assault on the territory's democratic freedoms. US-China relations have reached their lowest point in years. In mid-May Trump, who has pursued a deal to end a damaging trade war he launched with China, went so far as to suggest he could cut ties with Beijing. Among his criticisms of China, Pompeo has said it could have prevented hundreds of thousands of deaths from the global coronavirus pandemic by being more transparent. Trump has initiated a process of eliminating special US treatment for Hong Kong to punish China for curbing freedoms there, but has stopped short of immediately ending privileges. (with inputs from Reuters)

Top US, China diplomats meet in Hawaii as tensions flare

The ties between Washington & Beijing are constantly getting strained, Do American firms in China looking to exit?

Ties between Washington & Beijing getting strained, American firms in China looking to exit?