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Another major achievement is China's signature Belt and Road Initiative. Many international organizations and countries across Asia, Africa and Europe have shown their enthusiasm and participated in this initiative. In fact, we are honored to be one of the key institutions in this important initiative, working alongside both Chinese and international partners for many years.

Another positive factor is that a pan-Asia network of railways is taking shape that can connect China with other Asian neighbors.

Another possible factor: “Amazon is a conservative buyer,” Burgess said. “They think long term and they don’t get seduced by high-flying valuations.? For example, there was good business logic for them to acquire Twilio and add CPaaS (Communications Platform as a Service) as a feature set to AWS — but the IPO went out at over 16x revenue and if we see an acquisition by Amazon, it will most likely happen when that valuation falls back to earth. Even with the down rounds and the fallen unicorns, valuations are high — often out of range for a conservative acquirer like Amazon.”

Apart from the four municipalities (Beijing, Shanghai, Tianjin and Chongqing), the other 10 cities contributed to their own provinces' GDP by 23.74 percent on average. Chengdu in Sichuan province and Wuhan in Hubei province contributed more than one-third to their own provinces by 37.56 percent and 36.68 percent, respectively.

Anne Applebaum