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"Fiscal stimulus after demand shocks tends to be especially powerful when the economy has unemployed resources and monetary policy is accommodative," said John Bluedorn, a deputy division chief in the World Economic Outlook Research Department at the International Monetary Fund.

"Given the fact that the auto industry is moving very quickly towards high-level automation, a higher level of shared mobility and electrification, this is a very important aspect because that's where a lot of the innovation will occur."

"Hasty trade remedy measures will not help solve the problem," Wang said, urging joint action from countries involved to stabilize the global economy.

"For instance, if a tenant violates the contract, what can we do without the constraint of the deposit?" Wang said.

"Going forward, China will stay committed to deepening its reform, opening itself wider to the world and enhancing its friendship and cooperation with other countries," Xi wrote. "In this context, the China-US relationship enjoys whole new vistas."