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"The Belt and Road Initiative is closely related to economic globalization and will enhance the competitiveness of Asia. That's why the initiative should be given priority and actively promoted among the Asian economies," reads the Asian competitiveness report.

They will also exhibit the "major-country diplomacy with Chinese characteristics," which embodies championing peace, being non-threatening, standing up for the small and weak, and sharing development opportunities.

All eyes are on Chinese President Xi Jinping, who will address the annual conference of Boao Forum for Asia (BFA) on Tuesday and is expected to flesh out plans for expanding reform and opening-up.

"While the demographic dividend was well leveraged during the earlier stages of development, it is a more skilled and high-quality workforce that is crucial to high-quality development going forward," Li said.

So what has led to the rise of anti-globalization sentiments in the West? The key reason is the increasingly unequal distribution of the economic pie despite the fact that it is growing larger.