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Bruno Lannes, China partner of global market consultancy Bain &Co, said the trend of Chinese consumers focusing more on cost started to take shape in 2019 and the trend has become more noticeable after the COVID-19 epidemic.

Brazil's President Jair Bolsonaro speaks during the Brazilian Steel Conference in Brasilia, Brazil, Aug 21, 2019. [Photo/Agencies]

Brunei is also willing to join hands with China to move forward ASEAN-China relations, the second minister said.

Bown said such a solution may only make matters worse. He said the use of an ill advised and obsolete US trade law is likely to shift attention away from China's actions toward Trump's own policies.

Brazil, ranking third only after the United States and India in terms of case tally, has the second highest death toll from COVID-19 at more than 150,000, Johns Hopkins University's data show.