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As there is still work to be done to improve monetary policy transmission mechanisms－or to funnel additional liquidity into the real economy, particularly small businesses and infrastructure investment, interest rate cuts may translate into asset bubbles, instead of stronger economic expansion, Zhang Jun wrote in a note.

As women become more independent economically, they are more willing to consume alcohol, Li added. In recent years, a Western-style drinking culture has had an impact on Chinese women. This, combined with greater pressure at work, has seen them drink more alcohol.

As the COVID-19 outbreak is still raging worldwide, the ensuing global recession makes it more challenging to enact the policies needed for mitigation and raises the urgency of understanding how mitigation can be achieved in an employment-and growth-friendly way and with protection for the poor, the IMF said.

As some in Washington think tanks and the diplomatic community have floated the idea of building a "coalition of democracies" to take on China, Kissinger said, "I think a coalition aimed at a particular country is unwise, but a coalition to prevent dangers is necessary where the occasion requires."

As the COVID-19 pandemic has swept across the world since March, Italy became one of the hardest-hit nations.