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And after a campaign rally for president last month in North Charleston, South Carolina, wearing a bulletproof vest and breaking down in tears, rapper Kayne West's wife, Kim Kardashian-West, posted messages on Instagram asking for the public's "compassion and empathy" as he struggles with bipolar disorder.

Analysts hold there is room for further tax reductions through measures such as lowering corporate income tax and expanding the scope of expense reductions for enterprises. Currently, China has three brackets for value-added taxes at the ratios of 17 percent, 11 percent and 6 percent respectively. The country can reduce the three brackets into two in the future, analysts suggest.

And the increasing expenditure goes to more sophisticated and experiential activities, according to a report by consultancy Oliver Wyman, which showcased that overall trip spending surged against a precarious drop dedicated to shopping when the Chinese travel overseas last year.

Analysts from Soochow Securities wrote in a note released on Tuesday that the A-share market is ready to pick up given ongoing industrialization, favorable policies, and industrial and consumption upgrades.

Andres Abadia of Buenos Aires consultancy Pantheon said Argentina's austerity measures "should be seen as a positive, but market confidence in Argentina remains fragile".