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"China is taking the lead in the electric vehicle market as there is a real government push to clear the air," said Bill Ford, executive chairman of Ford Motor Company, at the 2017 Fortune Global Forum this month.

"China has become one of our most important markets around the world, and we always attach great importance to our development here," said Howard Ozawa, executive vice-president of Canon and the president and CEO of Canon China.

"By using its full digital traceability system and digital tools such as smart sensors, visual inspection and auto monitoring system to improve quality control, Danfoss CC Tianjin factory has improved labor productivity by 30 percent and reduced customer complaints by 57 percent within two years," the WEF announcement stated.

"China has the global competitive edge in terms of labor-intensive products, while the US has the global advantage in terms of skill-intensive products and service industry," said Xu Hongcai, an economist with the China Center for International Economic Exchanges.

"CCC loans the farmer money with the (soybean) crop as collateral. The farmer can then default on the loan, and the CCC gets the crop. But this is uncertain and adds unnecessary complications to the farm bill discussions as well," he said.