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"China is much further along its post-COVID recovery path," said Paul Colwell, head of Asia advisory portfolio group at Willis Towers Watson. "The way policymakers act in response to changes in the economy, monetary policy, fiscal policy ... China operates at a fundamentally different frequency to the rest of the world," he added.

"COVID-19 once again reminds us that we are closely interconnected and we are only as strong as the weakest," Zhang said.

"China has been investing in infrastructure in South America for a while," Leeds said. "So, from our perspective, we don't think that's news - just additional competition. Brazil and Argentina still have a long way to go, but these investments are certainly closing the gap on their ability to compete with the US."

"By providing conveniences to more people, sharing economy separates the ownership and usage of products, which is hard to define in terms of responsibilities of both parties," said Lu Wenhui, a consultant with Aon-COFCO, a Shanghai-based insurance broker.

"China is open to different ideas. It does not just want to put its own ideas forward, but also wants to listen to others. It is about what countries can do in cooperation with each other, jointly, bilaterally and multilaterally."