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"China has a high savings rate. It used to be a huge advantage, but we'll lose that advantage if borrowing grows faster than savings," he added.

"China has reached the right time to further open its borders to more foreign players," Huang said.

"China is more and more important to Airbus. Airbus not only sells aircraft here, but also targets a vertical integration in cooperation with China," Mery said.

"China has thus far achieved a significant victory with regard to tackling the novel coronavirus. However, there are two major risks that are blighting the growth recovery. External demand has been falling as the epidemic is spreading to more economies, while chances of a potential second wave of infections within China are also rising," said a research note from Japan-based Nomura Securities.

"China is a developing country while the US is a post-industrialized country. A large part of their materials to make consumer goods and industrial products depends on imports," Zhou said, adding that tariffs will only leave the US with two choices—buying from China with a higher cost, or buying from other countries with uncertain quantity and quality.