Industrial development supports inheritance of traditional arts in Xizang

Industrial development in southwest China's Xizang Autonomous Region is playing a crucial role in the preservation and promotion of traditional arts, with a prime example being the walnut wood bowls from Gyaca County in Shannan City.

These bowls, crafted from the burls of ancient walnut trees, are not only renowned for their craftsmanship and quality but also hold a significant place in the daily life and festivals of the people of Xizang.

Gyaca County is home to extensive ancient walnut forests. With over 3,600 trees aged over 1,000 years spread across 24 villages, this natural resource is the backbone of the local economy and a testament to the region's commitment to sustainable development.

The walnut wood bowls are a representative of Xizang's intangible cultural heritage, a craftsmanship that has been passed down through generations.

The process of creating these bowls is intricate, involving eight steps from wood selection to carving and polishing. Skilled artisans dedicate two months to transform a piece of wood into a beautifully patterned bowl. The most famous bowls are those made from local walnut trees that are thousands of years old, showcasing unique craftsmanship.

In recent years, the region has focused on developing traditional cultural industries and cultivating talent to support the continuation of these arts. This has led to the rise of local heritage inheritors like Sangzhu, who started making wooden bowls at the age of 16.

With government support, he transitioned from a family workshop to establishing a cultural industry company. Sangzhu now combines traditional craftsmanship with modern design, creating stylish and practical products that cater to the growing market demand, thus ensuring the survival and evolution of this traditional art form.

"I've been making wooden bowls here for 26 years, and now I want to get more creative with the designs. I'm thinking of making smaller bowls that are easier for tourists to buy as souvenirs, or decorative ones for home display. We're also promoting through online marketing, and our yearly sales have doubled," he said.

Sangzhu's company has also become a local base for the preservation of intangible cultural heritage. It offers skills training and employment opportunities for local residents, including many young people. This helps preserve and develop the craft of wooden bowl making, while enabling more people in the area to achieve sustainable income growth.

"Over the past two months of learning here, I've mastered every step of making wooden bowls, from selecting materials to processing. Working here now earns me about 9,000 yuan (about 1,275 U.S. dollars) a month, which has significantly improved my life. I hope to keep refining my skills, make more and better wooden bowls, and continue preserving this intangible cultural heritage," said Gesang, a local staff member.

The traditional wooden bowls, once a vital part of the daily life of the people in Xizang, also gained even wider attention with the rise of tourism. This has opened up new opportunities for the local artisans and the industry, further supporting the inheritance and innovation of traditional arts in Xizang.

Industrial development supports inheritance of traditional arts in Xizang

The U.S. Federal Reserve's decision to cut interest rates by 50 basis points comes at the right time to boost market confidence, but further action is needed to avoid a recession, according to Liu Zhiqin, a senior fellow at the Chongyang Institute for Financial Studies at the Renmin University of China.

In an interview with China Global Television Network (CGTN), Liu highlighted that the Fed had not implemented a rate cut since March 2020, and that the global market has waited patiently ever since.

"I think the timing is very important for the Fed decision as we know the four years is not a short time, because the global market has enough patience to wait till this time point. As we see that the economic recovery in the United States is still uncertain. That's why, I think, the Fed is considering more driving forces, especially in the monetary policy to have more positive policies that to support economic recovery," he said.

“This is a very important time point. As I understand now, the American economy is coming to a crossroad. To the left, there will be lower inflation, to the right, the inflation will still remain, could be high, including unemployment. So, [at] this crossroad, [the Fed] made the decision that probably benefits the economic recovery. So, we see that timing is right and a little bit too late, but still good enough that the necessity for such an interest cut that will [create] more confidence for the market," the economist added.

Liu also emphasized that the size of the cut is appropriate considering the extent of the waiting period.

"50 basis points is quite reasonable. 25, after four years of waiting, I think it's too small a step for the market. So I think the Fed made the right decision. The 50 basis points of the interest cut is to meet the demands of the market. Because if two years before we made such a decision, 25 basis points [would have been] good enough. But nowadays fifty [basis points] is still available for a new interest cut in the future. So I think the fifty [basis points] is good enough," he said.

Though optimistic about the cut's potential impact on the global economy, the expert warned that it might not be enough to prevent a U.S. recession.

"There's no actual right policies to prevent any possible recession because we need a lot of other additional jobs and policies. Not only the interest cut, the interest cut is only one important thing that to counter the inflation or unemployment in order to lower the borrowing cost for the market, give more confidence to their buyers and the consumers. But if we want to prevent any recession, we need more industrial policies to support manufacturing, the real economy and other sides. This is a very important policy to have more efficiency, the whole picture will be improved, because the market needs more policies to support to have more confidence at the moment. The confidence shortage is the major barrier for the United States, also for the global market. So this move has really improved expectations of the market that the economy will be much better to recovery than people thought," Liu said.

U.S. Fed's rate cut may boost market, but further action needed: expert