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China has now cumulatively produced more scientists and engineers than the West, according to the report. Chinese universities and their degrees are comparable and possibly even better than the US in some areas, it said.

China has been opening up its doors wider to the world, with a wide range of incentives aimed at expanding imports, including cutting tariffs on vehicles and auto parts.

China has been educating its next generation to prepare for unexpected events or potential risks. And it seems there is no curriculum more cogent than the reality that reflects the old saying, "Bring an umbrella on a sunny day; save food when you are full."

China has made strenuous efforts to restructure its economy, with focus on maximizing the potential of the economy through encouragement of innovation and support for the development of some key emerging areas such as new materials, artificial intelligence, internet and the digital economy.

China does not have export subsidies, Zhang Ming, head of the Chinese Mission to the European Union, said in an article on Politico.com in January.