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"China's rate of account ownership – a basic metric of financial inclusion – has increased significantly and is now on par with that of other G20 countries," while having the world's largest agent banking network, a press release on the website of the World Bank said on Sunday.

"China's economic might gives its government the leverage it needs to strike back decisively, including scaling back purchases of American products and subjecting well-known US companies with large Chinese operations to tax or antitrust probes," Bloomberg said.

"City, town and county beaches may open as well on Friday of Memorial Day weekend, as long as they fully enforce the minimum rules," he added.

"China was interesting to me because it was so different from what was happening in the Soviet Bloc. That's when the creation of the economic zone happened in Guangdong. That's what got me started on China," Taylor said.

"China's demand just isn't big enough to absorb Brazilian and American crops in six months unless the Chinese are willing to purchase extra supplies and put them in storage,'' he told China Daily. "Otherwise, we won't work through the current large stocks in a snap of a finger. Long term, things may be better. The devil is in the details.''