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But because banks traditionally offered loans only to large-scale enterprises, families pooled their cash and organized informal lending societies to fund cash-strapped smaller businesses, backed by the trust born of their tight-knit community.

But Tmall's dominance is under siege by the likes of JD and Pinduoduo, both of which are backed by Tencent, said Cao Lei, director of the China E-commerce Research Center.

But for those over 65, it’s practically a non-starter, with 83 percent saying they were uncomfortable with the idea.

But Parker noted he also has concerns. As a growing business, WorldFirst needs to be more aggressive and enhance its presence in the market in order to expand its business, he said. Thus, the CIIE came just at the right time.

But Trump increasingly acted on his own instincts on a host of national security issues, choosing an "America First" agenda that contradicted Mattis' core beliefs.