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"Frankly speaking, Europe should be grateful to President Trump because thanks to him we have got rid of all illusions. He has made us realize that if you need a helping hand, you will find one at the end of your arm," Tusk said.

"Given the Chinese economy's weight in global growth, if it stabilizes, it will play a very positive role in boosting global trade and growth," said Liang, who is also chairman of the China Silk Road iValley Research Institute.

"For instance, many bike manufacturers now mainly produce bikes for bike-sharing platforms. Once platforms stop making new orders, manufacturers will be hit in the pocket."

"Government support, the 59-country visa-free policy and the newly expanded duty-free policy strongly boosted the convention and exhibition sector last year," he added.

"Formal and informal barriers are rising. Frictionless trade is beginning to rub, supply chains are starting to drag. Business leaders must recalibrate and adapt to this new reality or global players", he said.