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In March, "LOONNY" became the first Thai store to use live-streaming to sell their clothes on Lazada. Through live-streaming platforms, Nunthapong and Manassawee are engaging with interested buyers virtually face-to-face to buy their clothes immediately.

China's rapid development such as catering to the digital economy and engaging with climate change has also taught us a lot, he said, noting China is growing a vision of exporting its experience to the world.

Sharing Xi's view, French President Emmanuel Macron, who attended the opening ceremony, said the success story of China shows that China needs to be open to the rest of the world and vice versa, adding that resorting to unilateralism, protectionism, tariffs or the law of the jungle will not resolve the problems the world is facing.

The Chinese delegation is led by Chinese Vice Premier Liu He, also a member of the Political Bureau of the Communist Party of China Central Committee and chief of the Chinese side of the China-U.S. comprehensive economic dialogue, and the U.S. team is headed by U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin.

Malpass said the current world economy is facing severe challenges that need to be addressed by all parties.