hroughout the world, with a history of more than 2,000 years. In 2006, the traditional festival was listed as part of China’s
national intangible cultural heritage. In 2008, it was recognized as a public holiday in the Chinese mainland.
The Dragon Boat Festival commemorates the death of Qu Yuan, a Chu state
official and poet who lived during the Warring States Period (475-221 BC) before the reu
nification of China under the Qin Dynasty (221-206 BC). He was exiled after opposing his king’s decision to ally wit
h the neighboring state of Qin, and when Chu was finally conquered by Qin, he
committed suicide by drowning in the Miluo River on the fifth day of the fifth lunar month.
The Chu people, who admired Qu Yuan for his loyalty and integrity, th
rew rice dumplings into the river to feed the fish so they would not eat the body of their po
et hero. People then started dragon boat racing to scare off the fish.
Since then, the fifth day of the fifth month on the lunar calendar is cel
brated as the Dragon Boat Festival. The following are some customs for the festival.
policies for residence permits and financial incentives to lure more talent.
For example, Zhenjiang in Jiangsu province, promised bonuses of 150,000 and 200,000 yuan for house purchases to gradua
tes with master’s and doctoral degrees, respectively, after they work in the city for three years.
Haikou, capital of Hainan province, is attracting college students with a monthly rent s
ubsidy of 1,500 yuan, with an 18,000-yuan allowance to graduates who decide to buy an apartment there.
Employment, especially some groups such as college gradu
ates and demobilized military staff, remains a priority to the government.
Premier Li Keqiang said at a teleconference on May 13 that employme
nt pressure will be felt this year by a larger number of college graduates. However, promotin
lower-income－some growing and others not) developing countries will be of huge importance in red
ucing poverty further. Although these countries face significant headwinds, they could also seize imp
ortant new growth opportunities－especially with the help of digital platforms.
The headwinds are certainly considerable. For starters, advances in digital technolo
gies－robotics, machine learning, sensors, and vision－directly threaten the labor-intensive manu
facturing and assembly upon which lower-income, nonresource-rich economies have traditionally relied.
Moreover, climate change has had its greatest economic impact on the tropical and subtropical regio
ns where most of the lower-income countries are located. The effects of global warming are highly disrup
tive in fragile economies, and, taken together, constitute a major new obstacle to growthle