In his speech at the PBC School of Finance, Merton presented his research on the costs to Chinese investors of not being able to invest worldwide. A central tenet of finance science is that the optimal tradeoff between risk and return for an investor is an index of all the assets in the world. Using data from 1993 to 2015, he calculates that the expected return to a China-only portfolio would be three percentage points less than that of a world portfolio.
In one of the trial's final days, Guzman told the judge he would not testify in his own defense. The same day, he grinned broadly at audience member Alejandro Edda, the Mexican actor who plays Guzman in the Netflix drama "Narcos."
In its newly-released Global Economic Prospects report, the World Bank said the outlook for the global economy "has darkened" as global financing conditions have tightened, trade tensions "have intensified," and some large emerging market and developing economies have experienced significant financial market stress.
In general, a draft will become a law after being reviewed by the top legislature for three times.
In his view, China's Belt and Road Initiative (BRI) offers an example of mutual respect and cooperation.
In its apology on Saturday, the Wuhan Red Cross said it had convened an emergency meeting overnight to discuss internal problems and pledged to hold accountable those directly in charge of the relief distribution.
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In her last summer vacation of her graduate studies, Xu Jia started a two-month internship at the Chinese branch of transnational food giant Mars Inc.
In line with the larger national strategy, the domestic aviation market will serve as the mainstay, and the domestic and international markets will promote each other.
In his report, Xi outlined China's commitment to continued supply-side structural reform, and urged the country to increase efforts to promote better quality, higher efficiency, and more robust drivers of economic growth.
In neighboring Guangdong province, seven people were killed and one is still missing as of 10 a.m. Tuesday as heavy rain destroyed roads and toppled houses.