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LISBON cheap nike air force 1 womens , Dec. 4 (Xinhua) -- Portugal's Prime Minister Pedro Passos Coelho blamed policies implemented by previous governments for the country's "bankruptcy" and "impoverishment", at a conference on growth organized by broadcaster SIC and bank Caixa Geral de Depositos on Wednesday.


"We cannot elaborate public policies which separate justice from innovation, education from investment," Passos Coelho said, adding that budgetary discipline was essential to recover growth.


"Balanced accounts are a condition for growth. In (implementing) budgetary discipline structural reforms there is no left and right -- there is a good and a bad government," he said.


He opposed government intervention in big companies and highlighted the importance of innovation.


And he pointed out that Portugal's future would not completely depend on European decisions, which would mean a "lack of national strategy" and would be a "symptom of political weakness."


In May this year cheap nike air force 1 mens high , Portugal exited the 78-billion-euro bailout program it signed with the troika of the international lenders -- the European Commission, the International Monetary Fund and the European Central Bank. However, it will continue to implement the harsh austerity as it had been doing in the past three years to put the country's economy back on track.


By Xinhua writers Yang Shilong, Zhou Xiaozheng


NEW YORK, June 21 (Xinhua) -- A famous Chinese entrepreneur's high-profile rebuttal of a recent report by The New York Times has drawn a lot of attention across the Pacific in the past few days, reviving a long-lingering question: what makes U.S. mainstream media's reports about Chinese companies so controversial?


Cao Dewang, founder and president of Fuyao Glass cheap nike air force 1 mens , the world's largest auto glass manufacturer, dismissed the NYT report about his factory in Dayton, the U.S. state of Ohio, as inaccurate and unbalanced.


During interviews with the Chinese media, Cao said that local government believes Fuyao's investment in Dayton has brought tremendous positive changes to the local community, calling the NYT report "a false one."


The Dayton factory, which officially started operation in October 2016 cheap nike air force 1 high black , currently employs some 2,000 American workers.


In a report published earlier this month, the NYT claimed that "at Fuyao, a major culture clash is playing out on the factory floor, with some workers questioning the company's commitment to operating under American supervision and American norms." The report also questioned Fuyao's labor and safety standards.


"The New York Times didn't visit or interview any current employees at Fuyao's Dayton factory. Instead, it only talked with a few former employees and union activists, who are biased to a certain degree cheap nike air force 1 low black ," said Cao, adding that Fuyao's factory in Dayton has been strictly observing U.S. laws and regulations.


Fuyao is the second major Chinese company with U.S. investment and operations that has refuted U.S. mainstream media reports so far this month.


ICBC Financial Services, the U.S. brokerage unit of Industrial & Commercial Bank of China Ltd. (ICBC), is in strict compliance with local regulatory policies and risk-management rules, said ICBC USA in a statement issued shortly after a Bloomberg News report alleged the company was "profiting from the murky world of shadow banking."


The Bloomberg story claimed that ICBC Financial Services had roughly 260 U.S. dollars in assets for each dollar of capital at the end of 2016, over 10 times the leverage used by J.P. Morgan's securities unit. It added that the bank has exploited "loopholes in post-crisis (the 2008 financial crisis) rules" to emerge as a major U.S. dealer in government debt repos, which could pose a threat to financial stability.


But in its statement cheap nike air force 1 black , which later was also published by Bloomberg, ICBC USA clarified that its brokerage unit's leverage ratio, as calculated under requirements laid out by the U.S. Financial Industry Regulatory Authority, has been below 20 times over the past four years, which is "completely" in compliance with regulatory requirements.


Commenting on these two controversial incidents, Li Ji, associate professor of law at Rutgers University Newark cheap nike air force 1 high white , told Xinhua: "Such things are no surprise to me, as U.S. media view investigation and exposure of negative stories as their top responsibility and also a lifeline."


"However, quality journalism in the U.S. media has been undermined in recent years due to intense competition pressure. Today's NYT reports are not as good and solid as they were in terms of down-to-earth investigation and balanced writing," Li added.


Zhao Yuezhi, professor at the School of Communication of Simon Fraser University in Canada, echoed Li's views.


"These are very serious news organizations. So I was initially surprised to hear that both news outlets reported on these two companies without on-site investigation," Zhao told Xinhua.


"However cheap nike air force 1 low white , on a second thought and in light of all the recent discussions about declining journalistic standards in the American media in general, even in the realm of serious domestic political reporting, perhaps there was nothing to be surprised about," she said.


"The long-standing and well-documented bias in U.S. media reporting of China and Chinese companies probably also played a role here," she added.


Meanwhile, the experts believe that Chinese companies, which have been expanding their footprints in the United States in recent years cheap nike air force 1 white , also have quite a few lessons to learn from such incidents.


"I have no doubt on Cao Dewang's investment and management capabilities, but he has to learn to reach out to the local media, and try not to be dragged into domestic politics in the United States," said Wang Wen, executive dean of the Chongyang Institute for Financial Studies affiliated to Renmin University of China, who is currently in New York for a dia. Cheap Jerseys China Wholesale Wholesale Jerseys From China Wholesale Jerseys From China Wholesale Jerseys Cheap Wholesale Jerseys China Cheap Wholesale Authentic NBA Jerseys Wholesale MLB Jerseys Free Shipping Cheap Swingman NBA Jerseys Cheap College Hockey Jerseys Wholesale College Jerseys
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