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"Culture is changing," he continued. "But we have to find how to interpret the meaning of culture in the context of the 21st century… We need to better translate our own cultures and have them better understood and received by others."

"Current indicators suggest China is especially suited for widespread adoption of autonomous vehicles," said Ting Wu, partner in McKinsey's Shanghai office and co-author of the report.

"China's 'new infrastructure' initiative presents exciting opportunities for global companies. It is clear that many of our customers in different sectors need to enhance their manufacturing capability, such as new energy vehicles, railway, 5G equipment, logistics and healthcare," said Atiya, who is also a member of ABB's group executive committee.

"Cross-border acquisitions, which may go along the Belt and Road countries and regions, or be related to the buyer's core line of business, or has the potential to create synergy effect, are essentially encouraged and welcomed by Chinese policymakers," Wu noted.

"Cooperation between the US and China is critical to meeting all of the challenges facing our world, from economic growth and trade to security and climate change," the media mogul said.