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The UK excels in project management, financial and professional services and also environmental impact consultancy, Maddocks said, all of which are important sectors for supporting the implementation of the initiative as a large part of the program involves international cooperation in infrastructure development and operation.

The US and China have differences over certain issues, but both sides should not confront each other because of this, Kissinger said, adding that it is not in the interests of either side.

The US top diplomat also added that Washington is not intended to make concessions to Pyongyang during the Trump-Kim meeting.

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The UK used to send 540,000 metric tons of scrap plastic to China annually, but China stopped accepting such imports in January on environmental grounds.

The UK's tourism industry is worth 130 billion pounds (8 billion) a year, contributing 36 billion pounds a year to London's economy. The sector maintained healthy numbers following the Westminster and Manchester attacks and it remains to be seen whether the third attack will result in fewer tourists heading to the UK. Last year, France saw a seven percent drop in visitor numbers following multiple terror attacks there.

The US has implemented tariffs on billion of Chinese imports, to which Beijing retaliated. Washington has ended a public comment period for an additional 0 billion of tariffs worth of goods from China and before that's imposed, Trump said he's "ready to go'' with levies on an additional 7 billion worth of Chinese products.

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The US economy is expected to grow 2.9 percent in 2018 and 2.7 percent in 2019, up 0.6 and 0.8 percentage points, respectively, from the October forecast due in part to a large temporary fiscal stimulus, according to the report.

The United States on April 3 announced tariffs on a proposed list of Chinese goods worth billion, covering industries in aerospace, information and communication technology, robotics and machinery.

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The UBS report expects the current fragmented after-school tutoring market to consolidate, resulting in mergers of big national companies. Top tutoring companies, leveraging their visible and consistent tutoring qualities, appeal to quality tutors and brand recognition, and are better positioned to gain market share.

The US Federal Reserve raised the benchmark interest rate three times this year, putting pressure on the yuan. While China's central bank refrained from following suit, its open market operations saw interest rates go up in response, mitigating the impact of the Fed hikes.