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Analysts cited sluggish demand, especially externally, as the biggest downside risk to China's economic recovery after the pandemic sparked recession risks across the globe.

An open market offers vegetables to residents in neighborhoods adjacent to Nanhu Lake, Hongshan district, Wuhan, Central China's Hubei province, Feb 12, 2020. [Photo by Su Feng/chinadaily.com.cn]

Analysts said that to resolve the current trade disputes, the two countries should shift their focus to making the economic pie bigger in order to benefit both, as the two economies are complementary.

And global scholars and political leaders also praised the book and China's commitment to globalization at a time when the West is turning inward.

Analysts said since the effect of tightening measures will be felt in first- and second-tier cities this year, lower tier cities are expected to outperform major cities in 2018.