Singapore tops IMD World Competitiveness Index; India ranked 43rd

Washington, May 1:The novel coronavirus, that has killed over 230,000 people globally so far and has shattered economies, emerged from a virology lab in the Wuhan city of China, US President Donald Trump claimed Thursday with a high degree of confidence.

"Yes, I have. Yes, I have," Trump told reporters at the East Room of the White House when asked if he has seen anything at this point that gives him a high degree of confidence that the Wuhan Institute of Virology is where the virus originated.

The president, however, refuse to provide any details, except for saying that investigations are on and it would be out soon.

Asked what gave him a high degree of confidence that the virus originated from the Wuhan Institute of Virology, he said, "I can't tell you that. I'm not allowed to tell you that."

The president, however, did not hold his Chinese counterpart Xi Jinping responsible for this. "I don't want to say that, I don't want to say that, but certainly it could have been stopped. It came out of China and it could have been stopped and I wish they had stopped it and so does the whole world wish they had stopped it."

Reiterating that this is something that could have been contained at Wuhan ground zero, he said that China could have contained it. "They were either unable to, or they chose not to. And the world has suffered greatly."

One of two things happened, he reasoned. "They either didn't do it and you know they couldn't do it from a competent standpoint or they let it spread and I would say probably it got out of control."

"But there's another case that how come they stopped all of the planes and all of the traffic from going into China, but they didn't stop the planes and the traffic from coming into the United States and from coming into all over Europe," he said, citing the example of Italy, the hardest-hit European country.

"This country (the US) is very lucky and I'm very lucky that I put the ban on China, as you know, very early on. In January, we put the ban on China and that was a very early day. That wasn't a late day, that was an early day. Then, we later put the ban on in Europe," he said.

Before holding them accountable, Trump said he wants to find out what happened. "I think we'll be able to get a very good -- a very powerful definition of exactly what happened. We're working on it strongly now and I think it's going to be very powerful," he said.

"But they could have stopped it. They are a very brilliant nation, scientifically and otherwise. It got loose, let's say, and they could have capped it. They could have stopped it, but they didn't. And they stopped the planes from going to China, but they didn't stop them from going to the rest of the world. What was that all about?” he asked.

"We should have the answer to that in the not-too-distant future and that will determine a lot how I feel about China," Trump said.

When asked if President Xi misled him, Trump said, "Something happened. I don't say misleading or not. I'll let you know that. I mean, I'll be able to give you that answer at some point in the hopefully not-too-distant future."

The entire world has suffered as a result of this, he said.

"We have had tremendous death and tremendous sorrow, sadness, and nobody's ever seen anything like it. So, have most of the countries of the world. They've suffered tremendously. It's something that is going to have to be dealt with. We'll have to see," said the president.

Jun 25: Tencent Holdings Ltd.'s $40 billion surge this week and the recent ascent of Pinduoduo Inc. have reshuffled the ranking of China's richest people.

The country's largest game developer has surpassed Alibaba Group Holding Ltd. as Asia's most-valuable company, with its shares rising above HK$500 in intraday trading Wednesday for the first time. Pinduoduo, a Groupon-like shopping app also known as PDD, has more than doubled this year.

The rallies have propelled the wealth of their founders, with an added twist: Tencent's Pony Ma, worth $50 billion, has surpassed Jack Ma's $48 billion fortune, becoming China's richest person. And Colin Huang of PDD, whose net worth stands at $43 billion, has squeezed real estate mogul Hui Ka Yan of China Evergrande Group out of the top three earlier this year, according to the Bloomberg Billionaires Index.

The coronavirus pandemic has accelerated the digitization of the workplace and changed consumers' habits, boosting shares of many internet companies. Now tech tycoons are dominating the ranks of China's richest people. They occupy four of the top five spots: Ding Lei of Tencent peer NetEase Inc. follows China Evergrande's Hui.

‘Perform Strongly'

Tencent has come a long way since hitting a low in 2018, when China froze the approval process for new games. Since then, the stock has almost doubled, and last month the tech giant reported a 26 per cent jump in first-quarter revenue.

“Tencent's online games segment will probably perform strongly through the Covid-19 pandemic, and most of its other businesses are relatively unscathed,” said Vey-Sern Ling, a Bloomberg Intelligence analyst.

That has been a boon for Pony Ma, 48, who owns a 7 per cent stake in the company and pocketed about $757 million from selling some 14.6 million of his Tencent shares this year, data complied by Bloomberg show.

The native of China's southern Guangdong province studied computer science at Shenzhen University and was a software developer at a supplier of telecom services and products before co-founding Tencent with four others in the late 1990s. At the time, the company focused on instant-messaging services.

It has been a long comeback for Pony Ma. He overtook real estate tycoon Wang Jianlin as China's second-richest person in 2013 and topped Baidu Inc.'s Robin Li as the wealthiest in early 2014. Later that year, Alibaba went public in the U.S., catapulting Jack Ma's fortune.

Bloomberg Intelligence's Ling notes, however, that Tencent's jump this year has lagged behind some internet peers, especially those in e-commerce, games and online entertainment. Just consider: Tencent shares have climbed 31 per cent in 2020, while PDD's American depositary receipts have more than doubled. Alibaba, meanwhile, has advanced just 6.9 per cent.

Washington, Apr 19: President Donald Trump has expressed his doubts over the official Chinese figures on the number of deaths in their country due to the novel coronavirus pandemic, claiming that the fatalities were way ahead of the US.

Trump's comments come two days after another 1,300 fatalities were added to the official count in the city of Wuhan, where the outbreak started. The revision puts China's overall death toll to more than 4,600.

"We are not number one; China is number one just so you understand," Trump told reporters at a White House news conference on Saturday. "They are way ahead of us in terms of death. It's not even close."

According to Trump, when highly-developed healthcare systems of the UK, France, Belgium, Italy and Spain had high fatality rates, it was O.33 in China.

The president asserted that the actual number was much more than the official Chinese death toll figures, which he said were "unrealistic".

"You know it, I know it and they know it, but you don't want to report it. Why?" he asked. "You will have to explain that. Someday I will explain it."

He also highlighted that on a per-capita basis, the mortality rate in the US was far lower than other nations of Western Europe.