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But Zhu said that though China doesn't want to have a trade war with the US, it is not afraid of one and will retaliate if the US persists.

But at the same time, the property will feature better building quality, infrastructure, software and services, which will add pressure on existing stock to be more proactive in improving the overall environment of their buildings if they want to compete at the premium end of the market, he said.

But even though Bezos made the acquisition separately from Amazon, he put himself?in a position to bring his expertise in online publishing and media to bear on his new investment.

But as noted by business media Quartz, China has started to move up the value chain to produce more pricey products instead of churning out Nike and Adidas shoes as it did a decade ago. Luxury brands such as Burberry, Armani and Prada have transferred parts of their production operations to China, according to Quartz.

But Olsavsky reiterated Thursday that “in the long run we’re going to have a combination both of our own capacity, fueled by third party carriers.”