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But the advent of 5G smartphones is expected to inject new vitality into the sector. According to a report by the Counterpoint, global 5G smartphone shipments are expected to reach 108.2 million units in 2021, up an estimated 255 percent year-onyear, partially offsetting the continued shrinking of 4G handset volumes.

But, the great moderation was really over by the time Bernanke's paper was published. During the late 1990s, the first internet boom was supported by easy credit provided by the Fed and new types of debt instruments created by the newly deregulated banks. Starting in March 2000, the dot.com boom collapsed and the Nasdaq stock index fell 78 percent from its peak. Combined with the aftermath of the terrorist attacks of Sept 11, 2001, this pushed the US economy into recession.

But these industries stand to gain a considerable rebound, with 82 percent of the respondents indicating that they would resume canceled dining once the outbreak is over, 78 percent on travel and 77 percent on out-of-home entertainment.

By Friday afternoon, all disease prevention personnel at the village level should be mobilized and remain on 24-hour active duty. "The team will not disband so long as the infection is still going," it said. Anyone who deserted their post will be seriously punished.

By 2 pm on Sunday, 93 people were still missing after a landslide buried more than 120 people from 62 homes at a village of Xinmo in Southwest China's Sichuan province early Saturday.