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To be fair, no one has figured out how to deal with "natural monopolies", which are markets, especially in infrastructure, where it would be wasteful to create two parallel competitors. Building two competing railroads to every town or running two telecom lines to every apartment could be prohibitively expensive.

To build a higher-level open economic system, Zhang said the government needs to continue granting free trade zones and other platforms greater autonomy to deepen reforms, optimize the business environment and promote multilateral, regional and bilateral cooperation.

To date, the grid operator has forged connections with grids in Laos, Vietnam, Myanmar, and other Southeast Asian countries to ease power shortage pressures.

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To bring the DPRK back to the negotiation table, Mogherini said she has been moderating closely with key players such as China, Russia, the United States and Japan to achieve international unity in solving the crisis.

To attract additional professional talent to help offer solutions to domestic disputes, she suggested that governments at all levels draft more specific rules and regulations to promote law enforcement.

To deepen reform

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To expand production and help boost the local economy, the company inked cooperation agreements with local villagers to offer them mushroom sticks and cultivation training, and purchase their shiitakes at a fixed price.

To date, the line has assembled and delivered 355 A320 family aircraft since its inauguration in 2008.

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To extend an olive branch to Moon Jae-in, President of the Republic of Korea (ROK), Kim said in his New Year speech on Jan 1 that he wants to see a quick end to the frozen relations with Seoul, offering first to dispatch DPRK athletes to the Pyeongchang Winter Olympics.

To avoid adverse effects on both nations stemming from a deteriorating global economic order, the two countries have to try to figure out the broader scale, Hormats suggested.