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"Everybody loses in a protracted trade war, we encourage countries to work constructively together to reduce trade barriers and to resolve trade disagreements without resort to exceptional measures," said the statement.

"Fed monetary policy has largely become irrelevant as demand contracts at multiple levels linked to the twin shocks from supply-chain disruption and now the plunge in oil prices," Manish Shah, chief investment officer at Toolbooth Strategy, told China Daily. "Consumers will enjoy lower prices for a while, until the shale gas producers start going out of business and then the banks in Texas feel the pain."

"Everyone needs to innovate," said Jeff Mike, vice-president and human resources research lead for Bersin by Deloitte, a firm that offers HR-related research, analytics, and industry insights to its corporate clients.

"During this critical time, when the scope and scale of the pandemic and its impact remain unknown, we will continue to monitor the situation and follow the advice of health care professionals and emergency responders," he added.

"Everything that society does that might shape public safety was turned upside-down during the pandemic," Jens Ludwig, a University of Chicago professor and director of its Crime Lab, was quoted as saying.