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As Rana Mitter, director of the Oxford University China Center, and others have pointed out, this will come with a whole new series of new responsibilities and challenges for China.

As for how a brand can cope with massive negative publicity: "You sit still and wait for the storm to pass," he told northjersey.com.

As a result, incumbent banks like DBS have embarked on digital transformation inspired by platform players like Alibaba and Tencent, according to a McKinsey report on the importance of ecosystems. Over the past five years, DBS has invested S billion (1 million) annually in its transformation, resulting in a substantial increase in digital customers from 33 percent in 2015 to 48 percent in 2018.

As an economic powerhouse and a strategic global player, China is undergoing economic structural changes, including increased emphasis on domestic consumption.

As a result, children and young families have become an important part of the company's client group, he said.