Global Economic Rebalancing： Fancy and Reality

＂Global economic imbalance＂ and ＂global economic rebalancing＂ have aroused great interest among international economic and.financial research circles. As the global financial crisis begins to abate, some Western countries have used ＂global economic rebalancing＂ as an excuse for trade protectionism and restricting the foreign economic development of developing nations. As the basic theoretical justification for the ＂global economic imbalance,＂ the theory of international trade equilibrium is wrong both in theory and in practice, because it has never been proven in the 200 years of history since the Industrial Revolution. ＂Global economic rebalancing＂ contains serious policy traps and does not generate any winners. The exchange rate is only one of the）actors which affect international trade;furthermore, it is not the fundamental mechanism. With the U.S. dollar retaining its status as the key currency of the international monetary system, it is impossible for the United States to achieve long-term foreign economic and trade equilibrium. The United States＇ trade deficit is an inevitable result of the dollar＇s status as an international currency.

Rebalancing China's Economic Growth:Some Insights from Japan's Experience

One of the greatest challenges China faces is reshaping its heavily investment-driven mode of economic growth. By investigating how the rebalancing of Japan＇s economic growth mode was realized in the 1970s, we indicate that it is essential in rebalancing to correct the distortions in factor cost （labor cost and capital cost） in a harmonious way. In addition, we refer to Japan＇s experience to indicate that rebalancing of domestic growth does not necessarily lead to external rebalancing.

Reducing CO_(2)emissions from the rebalancing operation of the bike-sharing system in Beijing

With the development of the bike-sharing system(BSS)and the introduction of green and low carbon development,the environmental impacts of BSS had received increasing attention in recent years.However,the emissions from the rebalancing of BSS,where fossil-fueled vehicles are commonly used,are usually neglected,which goes against the idea of green travel in a sharing economy.Previous studies on the bike-sharing rebalancing problem(BRP),which is considered NP-hard,have mainly focused on algorithm innovation instead of improving the solution model,thereby hindering the application of many existing models in large-scale BRP.This study then proposes a method for optimizing the CO_(2)emissions from BRP and takes the BSS of Beijing as a demonstration.We initially analyze the spatial and temporal characteristics of BSS,especially the flow between districts,and find that each district can be independently rebalanced.Afterward,we develop a rebalancing optimization model based on a partitioning strategy to avoid deciding the number of bikes being loaded or unloaded at each parking node.We then employ the tabu search algorithm to solve the model.Results show that(i)due to over launch and lack of planning in rebalancing,the BSS in Beijing shows great potential for optimization,such as by reducing the number of vehicle routes,CO_(2)emissions,and unmet demands;(ii)the CO_(2)emissions of BSS in Beijing can be reduced by 57.5%by forming balanced parking nodes at the end of the day and decreasing the repetition of vehicle routes and the loads of vehicles;and(iii)the launch amounts of bikes in specific districts,such as Shijingshan and Mentougou,should be increased.

Global Rebalancing and the Future of the Sino-US Codependency

The crisis of 2008 has shown the unsustainability of the global imbalances centered on the US-China symbiotic relationship that characterized the previous decade. This has revived the so-called growth-rebalancing debate. In particular, the new emerging consensus calls for a re-orientation of the US economy away from consumption and toward exports, and for policy shifts that can help China to reduce its dependence on external demandand inefficiently high rates of capital accumulation. We discuss the economic and political feasibility of the proposed patterns of re-adjustment by focusing on the short-term and long-term trade-offs faced by the policy-makers. We argue that the rebalancing will be gradual and partial because of the costs associated with a radical shift in the growth models adopted by both countries. We believe that this scenario will be consistent with a world economy expanding at lower rates than over the past decade.

Multi-class change detection of remote sensing images based on class rebalancing

Multi-class change detection can make various ground monitoring projects more efficient and convenient.With the development of deep learning,the multi-class change detection methods have introduced Deep Neural Network(DNN)to improve the accuracy and efficiency of traditional methods.The class imbalance in the image will affect the feature extraction effect of DNN.Existing deep learning methods rarely consider the impact of data on DNN.To solve this problem,this paper proposes a class rebalancing algorithm based on data distribution.The algorithm iteratively trains the SSL model,obtains the distribution of classes in the data,then expands the original dataset according to the distribution of classes,and finally trains the baseline SSL model using the expanded dataset.The trained semantic segmentation model is used to detect multi-class changes in two-phase images.This paper is the first time to introduce the image class balancing method in the multi-class change detection task,so a control experiment is designed to verify the effectiveness and superiority of this method for the unbalanced data.The mIoU of the class rebalancing algorithm in this paper reaches 0.4615,which indicates that the proposed method can effectively detect ground changes and accurately distinguish the types of ground changes.

Rebalancing China＇s Economy： Domestic and International Implications

This paper considers interactions between and their global implications. We present China ＂s domestic and external imbalances scenarios detailing how a rebalancing of China＇s growth pattern from investment-driven growth towards more consumption-driven growth may occur in practice. Using input-output tables for 2012, we illustrate the knife-edged nature of Chinese rebalancing, the linkages between expenditure-side and production-side rebalancing, and how an internal rebalancing could exacerbate external imbalances. A policy implication for China is that for rebalancing to be fast, consumption must be exceptionally resilient and the efficiency of investment must increase sharply. If rebalancing is too slow, the capital-to-output ratio will rise to potentially unsustainable levels and consumption will fail to attain levels of contemporary upper middle-income economies by 2030. Global input-output tables （1995-2011） suggest that the patterns of Chinese rebalancing considered in our scenarios may generate substantial headwinds for exports to China by its trading partners.

Rebalancing Challenges

China’s economic rebalancing is in the global spotlight because it has far-reaching implications for both China and the world. What triggered the imbalance? How should China push forward the adjustment?

REBALANCING ON THE WAY

Having persevered amid the trials of the financial crisis, the Chinese economy has arrived at the crossroads. As the country looks for more sustainable growth, the issue of economic rebalancing and structural adjust-

CRISIS FOCUS:Rebalancing the World

As China fights its way out of the financial downturn, the developed world, primarily the United States and Europe, is still reeling from the recession. Despite the divergence in levels of recovery, there are common lessons that need to be learned. The key point to

A New Framework for Software Vulnerability Detection Based on an Advanced Computing

The detection of software vulnerabilities written in C and C++languages takes a lot of attention and interest today.This paper proposes a new framework called DrCSE to improve software vulnerability detection.It uses an intelligent computation technique based on the combination of two methods:Rebalancing data and representation learning to analyze and evaluate the code property graph(CPG)of the source code for detecting abnormal behavior of software vulnerabilities.To do that,DrCSE performs a combination of 3 main processing techniques:(i)building the source code feature profiles,(ii)rebalancing data,and(iii)contrastive learning.In which,the method(i)extracts the source code’s features based on the vertices and edges of the CPG.The method of rebalancing data has the function of supporting the training process by balancing the experimental dataset.Finally,contrastive learning techniques learn the important features of the source code by finding and pulling similar ones together while pushing the outliers away.The experiment part of this paper demonstrates the superiority of the DrCSE Framework for detecting source code security vulnerabilities using the Verum dataset.As a result,the method proposed in the article has brought a pretty good performance in all metrics,especially the Precision and Recall scores of 39.35%and 69.07%,respectively,proving the efficiency of the DrCSE Framework.It performs better than other approaches,with a 5%boost in Precision and a 5%boost in Recall.Overall,this is considered the best research result for the software vulnerability detection problem using the Verum dataset according to our survey to date.

U.S.Deterrence and Coercive Diplomacy and China's Coping Strategy

Deterrence and coercion are two kinds of strategies,the latter being more aggressive than the former.The U.S.Asia-Pacific Rebalancing strategy is an important diplomatic legacy of Obama's administration.For the issues involving the Diaoyu Islands,the South China Sea,cyber security,DPRK's nuclear program,and Iran's nuclear program,the U.S.has carried out military deterrence and non-force coercion against China.But generally,these are low-level coercive measures and distinct from the severe economic sanction and diplomatic isolation imposed by the U.S.on Russia,Syria,DPRK and Iran in recent years.Concerning issues where the U.S.and China hold distinct views,there would be less strategic leeway for the two countries.If the U.S.is to strengthen deterrence and coercion towards China,China can respond more actively and effectively,but it will be more difficult to build a new model of China-U.S.major-country relationship.

Evolution of Regional Geopolitical Pattern and Its Impact on the Regional Resources Cooperation in Northeast Asia

Taking America＇s implementing the Asia-Pacific rebalancing strategy and China＇s building the Silk Road Belt as a backdrop, this research generalizes the basic concepts of geopolitics, geo-economy and geo-strategy, and then reviews the basic theories of geopolitics and its progress. Furthermore, based on the results of analyzing the features of changes of East Asia geopolitical environment, the paper summarizes the development trends of geopolitical environment of Sino-Mongolia and Sino-Russia, and considers that the geopolitical pattern and order of the South China Sea has been changed deeply with the strong involvement of USA. One of the most important changes is that China＇s interests are suffering stern challenge from Japan, Vietnam, Philippines and other countries. Afterwards, taking the energy market as an example, this research analyzes the impact of geopolitical changes of East Asia on the regional resources market. For China, the strategic conception of building the Silk Road Economic Belt is a countermeasure to counterbalance the adverse changing. At the same time, Russia was sanctioned by western countries and turned their eyes to Asia. So the stern geopolitical environment of both countries provides a good opportunity for China-Russia economic and trade cooperation. Because of the similar geopolitical situation and economic complementary, the energy cooperation between China and Russia is expected to be further enhanced in the future. Although Mongolia＇s economy relies heavily on China, its geopolitical strategic demand and strategic target have changed profoundly since the United States returns to Asia. The diplomatic priority of Mongolia is to strengthen exchanges with ＂the third neighbor＂ and to counterbalance its two neighbors＇ influences. Though the Sino-Mongolia geopolitical relations are mainly positive, America＇s involvement increased the uncertainty of Sino-Mongolia resources cooperation. For Japan and Korea being America＇s allies, the harsh regional geopolitical environment will decrease their share of resources market in northeast Asia in the future.

Malicious Synchrophasor Detection Based on Highly Imbalanced Historical Operational Data

By maliciously manipulating the synchrophasors produced by phasor measurement units in power systems,cyber attackers can mislead the control center into taking wrong actions.From the viewpoint of machine learning,normal and malicious synchrophasors may exhibit different spatial distribution characteristics when mapped into a latent space.Hence,a malicious synchrophasor detector can be acquired by training a classification model with instances derived from historical operational synchrophasor data.However,malicious synchrophasors occur infrequently in practice.It is likely to incur a great deal of effort and may even introduce inevitable experience errors when extracting and labeling a sufficient number of malicious synchrophasors from historical operational data for training.For most existing detectors,if they are directly trained with highly imbalanced datasets,their performances may severely deteriorate.In this paper,a novel type of malicious synchrophasor detector is developed based on a combinatorial use of data rebalancing,Bagging-based ensemble learning,and the widely recognized eXtreme Gradient Boosting(XGBoost)classifier.Experiments show that although fewer malicious instances are provided,the proposed detector is still capable of detecting malicious synchrophasors.

Exchange Rate Regime, Financial Market Bubbles and Long-term Growth in China： Lessons from Japan

Since 2014, capital inflows into China have turned into capital outflows, reversing the gradual appreciation path of the renminbi against the US dollar into an erratic depreciation path. The paper explains the current capital ouows by comparing China and Japan with respect to the impact of exchange rate expectations on speculative capital flows. It is argued that both in China and Japan, given benign liquidity conditions in the USA, policy-induced appreciation expectations have generated capital inflows that have contributed to overinvestment and financial market bubbles. The current reversal of capital flows is seen as a signal that the bubble in China has burst. To stabilize growth in China and to discourage speculative capital ouows a fixed exchange rate to the dollar is recommended. Given Japan＇s experience and given that China＇s foreign assets remain high, the depreciation pressure on the Chinese renminbi can be expected to abate.

China's Overinvestment and International Trade Conflicts

For a long time, China s impressive growth performance has been driven by investment and high productivity gains. Based on a discussion of possible overcapacities and overinvestment in China, this paper investigates the sustainability of China s investment and export-driven growth model. Since the turn of the millennium, buoyant capital inflows and low interest rates have been at the root of overinvestment and misallocation of capital, which necessitated export subsidies to clear markets. The overinvestment boom is argued to have ended around 2014. Since then, the overcapacities have weakened China's bargaining position in the US-Chinese trade conflict and have tempted Chinese authorities to postpone the restructuring of the Chinese economy by providing low-interest credit. The gradual reemergence of quasi-soft budget constraints is seen to undermine China s long-term growth potential.