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Phelps, noting that productivity growth began rising in 2016, says: "The data are on the side of allowing competition to occur and making companies compete in order to stay in the game. The point is, and it is made clearly in this (WEF) presentation, that if you have more competition, that will lead to more exercise of entrepreneurship. As (renowned economist Friedrich) Hayek would say, companies should be free to use their insights into what new possibilities have arisen as the result of changes in the world. The presentation to the WEF mentions innovation as well as entrepreneurship."

People visit the Volvo stand during the ninth International Trade Fair for Construction Machinery, Building Material Machines, Construction Vehicles and Equipment, also known as Bauma China 2018, in Shanghai, Nov 27, 2018. [Photo/IC]

Peach was one of the “Seattle 10” startups for 2015 and sketched their business idea on?this giant cocktail napkin.

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People take a sightseeing bus in Havana on Saturday as Cuba starts to ease its three-month COVID-19 restrictions. [ZHU WANJUN/XINHUA]

Peter Zhou from Huawei Wireless Network Product Line said 5G also will provide a big boost to cloud services. The railway stations of the future may be more intelligent than most can possibly imagine.

Pfizer has created its own cold temperature-controlled boxes for transportation that can hold from 1,000 to 5,000 doses at -70 C for 10 days before requiring more dry ice.

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Pedestrians walk past a China CITIC Bank Corp branch in Shanghai, March 21, 2017. [Photo/VCG]

Peru's President Pedro Pablo Kuczynski addresses the nation as he resigns at the Presidential Palace in Lima, Peru March 21, 2018. [Photo/Agencies]

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People unload medical supplies donated by China in Bandar Seri Begawan, Brunei, on Thursday. [PHOTO/XINHUA]

Peng Yuanyuan, Commsat's co-founder, said another four satellites are expected to be placed into orbit by the end of 2019. Alongside the Ladybeetle satellites, they may be able to provide commercial services, including monitoring overseas purchases.