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"China's economic might gives its government the leverage it needs to strike back decisively, including scaling back purchases of American products and subjecting well-known US companies with large Chinese operations to tax or antitrust probes," Bloomberg said.

"Consistent with its statutory mandate, the Committee seeks to foster maximum employment and price stability. In support of these goals, the Committee decided to maintain the target range for the federal funds rate at 2-1/4 to 2-1/2 percent," the statement said.

"China's economic reforms have paved the way for the nation to create some of the world's leading companies in e-commerce, artificial intelligence, genetic engineering, financial services and biotechnology," she said.

"Cold air will reach North China on Tuesday, which will help bring the air quality back to good," the ministry said.

"Constant contact and close coordination are the best medicine to ensure that the economic pain inflicted by the virus is relatively short-lived," Georgieva wrote in a blog, which is part of a special IMF series on the response to the coronavirus.