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"Economics says the differences are incredible assets – comparative advantages, division of labor, all stuff you read in economic textbooks says you should leverage differences," said Garrett, a native of Australia specializing in international political economics who also has been a professor at Oxford, Yale and Stanford universities.

"Everyone has motorbikes and cars now. We don't travel on horseback anymore," Urgyen said, adding that he even drives to the racetrack with his horse pulled in a trailer behind his pickup truck. "It used to take days, but now it only takes hours."

"Digitization will significantly improve the transformation of corporate banking," said Han Feng, partner at McKinsey. "Those banks that could truly realize digital transformation and large-scale digitization will considerably widen the gap between themselves and other banks."

"Different government departments cooperate fully with each other and actively serve the enterprise," an official from the commission said. "Mask production capability has seen a significant increase in the last month."

"Educational institutes, as a key component of the education industry chain, can use AI to improve efficiency and reduce cost," said Yu Min, president of Chinese online education startup SanHao, during the Global Education Summit, held by the TAL Education Group, in Beijing.