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"For many of our members, the (cost) of the raw material could be as much as 60 or 70 percent of the cost of the finished parts," Hardy added. "So the increase is significant."

"Following strenuous efforts, the positive trend of China's epidemic situation has taken hold and is expanding," Mi said, adding that most counties in the country are deemed at low risk of the virus' spread.

"Government investment in infrastructure projects could attract follow-up private investments by giving investors the expectation of better operational sustainability and credit endorsement", said Zeng Kanghua, a public finance professor at the Central University of Finance and Economics.

"For example, in the past two years we have seen more and more professionals in artificial intelligence. The government is placing a lot of emphasis on it and Chinese people are open to such new technologies, so it is likely for China to stand out."

"Filipino farmers in general have low productivity," he said. "Targeted measures must focus on those who are most negatively affected and the farmers who are most competitive."