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As the Chinese market becomes more open, trade and cooperation between Chinese and foreign companies will be boosted, which is mutually beneficial and provides Chinese companies with opportunities to learn from their foreign counterparts, he said.

As you might have noticed, the U.S. and China have been locked in a trade war over the last year, driven by President Trump’s insistence that 17th-century economic theories are back in vogue. While both sides remain engaged in discussions, there’s no question that business relations have suffered quite a bit following the introduction of tariffs on Chinese goods by the U.S., followed of course by retaliatory tariffs from China.

As prospects remain unclear in 2020, continued efforts should be made to reinforce the foundation of economic development, said Zhang Liqun, a researcher with the Development Research Center of the State Council.

As revealed by the competitiveness rankings, Asian economies have started to enjoy the bonus of progressing regional economic integration against the complexity of domestic and international situations, according to the Asian Competitiveness Annual Report.

As the majority of trade between China and countries along the Belt and Road is primarily with nations in Southeast Asia, West Asia, and Western Europe, there is considerable room for trade growth with other areas, according to Sun.