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"Going overseas is never easy and always brings challenges. Running a business in less familiar economies requires us to know better about the local culture, innovate our products and work with the locals," Lu said.

"Given the lack of conventional monetary support available, the recovery could falter without a strong fiscal policy response leading to years of anaemic growth," he told an Australian Business Economists event on Thursday, according to The Guardian.

"Given the increasingly converging China-US interests and the close-knit pattern of the two countries being mutually dependent, there will be no future or winner but only losers in a trade war," she warned.

"France and Germany both understand that only unity and cooperation can revive Europe, and they are firm in pushing forward EU integration," he said. "As long as these two big powers work together to convince smaller countries to endorse the nominees, I don't think it will be too difficult."

"For that reason alone the current approach to the US-China trade dispute is flawed, as are the tariffs that underpin it," wrote Roach, a faculty member at Yale University and former chairman of Morgan Stanley Asia. "There can be no bilateral fix for a multilateral problem. That has only led to trade diversion among trading partners —imposing higher costs on consumers and producers on both sides."