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"China is already more digitized than many observers appreciate and has the potential to set the world's digital frontier in coming decades," the McKinsey Global Institute said in a report.

"China is going from 'Made in China' to 'Created in China,'" said Gurry.

"China has always been a strategic market for CNH Industrial both for its size, as well as the potential for future growth…We will keep introducing the latest technologies and products that are customized to meet the demands of Chinese customers and provide them with the best in class service to maximize their productivity and efficiency," said Stefano Pampalone, president for Asia, Middle East, and Africa at CNH Industrial.

"China hopes to maintain a stable military-to-military relationship with the US," Li said. "But the antagonistic attitude toward China and Russia that the US military has cultivated in recent years will not likely change." 

"Central banks can act quickly to help ease the tightening of financial conditions by injecting liquidity and cutting interest rates, thus preventing a possible credit crunch," said Tobias Adrian, an official at the International Monetary Fund. "In fact, markets have been anticipating aggressive easing by central banks, as reflected in the sharp fall in sovereign bond yields in many countries around the world.