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But global fund managers stressed that investing in the A-share market will pay off in the long term.

But mobile phones soon consigned pagers to the technology dustbin, with China stopping its service in 2007, while there has been a drastic decline in customers in most parts of the world which used to have booming markets.

But Rausch says that’s just the tip of the iceberg. Soon, anyone will be able to connect to DRS and he said?there’s already a slew?of manufacturers who are chomping at the bit to get in. He said there were certainly?more than a few people in the room at the Smart Kitchen Summit already figuring out how they can incorporate DRS.

But car markets have recovered significantly, especially in China. This exacerbates the current situation and is causing considerable disruptions in global vehicle production across all manufacturers, Volkswagen said.

But earlier in the year, the market was volatile as US President Donald Trump's tweets increased uncertainty. On Aug 23, Trump tweeted "We don't need China, and frankly, would be far better off without them."