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GM is planning to introduce 20 new electric cars globally by 2023 and said it expects "a substantial share" of them to be sold in China, which has been the world's largest market for such cars since 2015.

Future historians will see the urbanization of China, and of countries throughout Asia, as one of the biggest social and economic transformations ever. Getting this right - maintaining the productivity of cities while making them livable for all their citizens - is crucial to the future of the world.

Further losses?

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Furthermore, China has seen a marked increase in women's literacy rate over the last few decades. According to a white paper released by the State Council Information Office last month, the illiteracy rate among girls and women aged 15 and older dropped from 90 percent when the People's Republic of China was founded in 1949 to 7.3 percent as of 2017.

Funded by AIIB's Crisis Recovery Facility and co-financed with the Asian Development Bank, the financing will fund measures to mitigate the impacts of higher food prices on vulnerable groups, an increase in social payments, new tax incentives to alleviate the financial burden of businesses and cash payments to the unemployed, the AIIB said.

Fuyang has a population of more than 10 million people. Of those, nearly 3 million migrate to cities in other parts of the country for work. Only a fraction of them can afford an apartment in the cities where they work.

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GAC established an R&D center last April in Silicon Valley, California.GAC plans to open a second R&D center in the Detroit area in the first half of 2018 as well as a design studio in Los Angeles.

Galloway: Look, I think we need to double down on capitalism. I worry that the US is not capable of moving from capitalism to socialism. It goes from capitalism to fascism. If you have capitalism on the way up and socialism on the way down, there’s a word for that. It’s cronyism.

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GM Cruise and Alphabet Inc's Waymo are often described as leading the pack of technology and auto companies competing to create self-driving cars and integrate them into ride services fleets.

Further tax and fee reductions, such as tax rebates and rental payment exemptions, can be taken into consideration. Encouraging policy banks, funded by the government, to directly lend to small businesses together with commercial banks－and share credit risks－should also be looked into.