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But closer observation from industry analysts shows that the fallout of Washington's latest chip ban will not be as damaging as intended, and Huawei has an opportunity to turn its fortunes around.

But people from other ethnic groups are also joining in, with the intention of cashing in on the academic and business opportunities that have been arising out of China's economic and cultural empowerment.

But many African countries are making strong efforts to move up the ranks. For example, Rwanda has implemented the highest number of business reforms in the world over the past 15 years, according to the World Bank.

But Trump, who nominated Wray to the role in 2017, told ABC News that he disagrees. "The FBI director is wrong," the president said. He added, "Life doesn't work like that."

But some Wall Street economists and analysts said that they did not see a major shift in Fed's tightening monetary policy.