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As the honorary guest city of this year's summit, Changsha in Hunan province of China led over 20 SMEs to matchmake with the US companies in the fields of advanced manufacturing and biopharma and digital health & diagnosis.

As there seem to be no signs of a quick remedy to the lingering trade frictions between China and the US, and collaborations in other areas remain stagnant, the importance of people-to-people exchanges through culture becomes increasingly prominent in terms of strengthening mutual understanding and spreading goodwill.

As should have been expected, this bet on risky investments did not work and many S&L banks went bankrupt. Since the deposits were insured by the government, the taxpayers were on the hook to pay for the S&L banks' losses, which amounted to more than 2 percent of GDP.

As two-thirds of the global population are forecast to live in cities by 2050, compared with about half now, urban planners and policymakers are increasingly looking to agriculture in towns and cities as a solution to provide nutritious food.

As the COVID-19 outbreak has been nearly brought under control in China, more than half of the companies, particularly the export-oriented ones, have achieved around 80 percent of production utilization, said AMRO.