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As Yang further explained, digitalization is the first step for sustained development in China. An omnichannel strategy combining online and offline platforms is key for Levi's in China.

As Warrior has traditionally focused on functionality and comfort, major foreign brands such as Nike and Adidas quickly ate into their market share when they entered the country with their stylish designs that appealed to the younger generation. When the company underwent restructuring in 2000, most of their products were relegated to street-side stalls.

As having cosmetic procedures seem to be fashionable among young people, they tend to forget that any neglect in such a medical treatment could lead to unwanted consequences, Jin said.

As a low-interest-rate environment compelled investors to make riskier investments, the share of debt owed by firms with weak debt repayment capacity has risen to a "sizable" level in several major economies, and could reach post-global financial crisis levels in the event of a material economic downturn, the IMF said.

As developed countries' economies slowdown, the private wealth growth of the UK, Germany, France and Italy will slacken to 10 percent in the next 10 years, and growth will be a little higher in North America, the report said.