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Dark clouds paint an ominous picture in Shaoxing, East China's Zhejiang province, as Typhoon Yagi hits the city on Aug 12, 2018. [Photo/IC]

Data from the National Development and Reform Commission showed China's logistics costs accounted for 14.9 percent of GDP in 2016, down by 1.1 percentage points from the previous year.

Databases are also changing, he said.Amazon is carving out its position in databases with its Aurora database, which Jassy described as the fastest-growing service in the history of AWS.

Deep in Argentina's popular beachside resort town of Mar del Plata, shopowner Fabian Cedron has been worried about his future. His stress levels spiked on Monday, when Argentina's financial markets crashed in spectacular fashion and sent waves of fear across financial markets.

Data from last year showed the number of signed PPP projects and total investment more than quadrupling from 2015, with private enterprises participating in more regions and sectors than ever before.