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"Governments at all levels will spare no efforts to create an inviting business environment, particularly for private companies, to boost vitality," he said.

"Globalization and the BRI are strong forces linking people and economies through cross-border solutions and supporting the prosperity of communities across the globe," said Hoermann, stressing that improvements in infrastructure, transportation, healthcare, and digital manufacturing will not only bolster the world economy but bring new opportunities for partnerships between domestic and global companies.

"Foreign investment in the sectors of securities, asset management and insurance will see rapid growth in the next few years as China further opens up the financial sector," said Zhang Xiaotao, dean of the School of International Economics and Trade at the Central University of Finance and Economics.

"For at least six weeks, the federal government took practically no action in the US. The virus was given a free pass to spread nationwide, and many other countries were able to avoid catastrophes by taking swift actions," he noted.

"Having a narrative about where you're trying to get to and the organization you're trying to become is the first step toward driving change," said Scott D Anthony, Singapore-based senior partner at consultancy Innosight in the report.