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"China is going to eat our lunch? Come on, man! I mean, you know, they're not bad folks, folks. But guess what? They're not competition for us," he said.

"But since I took it up as a profession, I began to feel more pressure that also made me come up with more ideas."

"China is heavily engaged in handling financial deleveraging reform, which includes the reducing of corporate debt, especially for the State-owned ones with overcapacity," said Iris Pang, an economist with banking group ING.

"Canada really has a reasonable institutional framework for coordination between jurisdictions because of historical circumstances," Fierlbeck said. "At this point, most of the first ministers have not decided to play politics with COVID the same way that certain American officials have been."

"China is advocating the peace, economic development and shared prosperity by launching mega initiatives like the Belt and Road Initiative," he said, adding that as a neighboring country, Nepal can learn a lot from China's experience of reform and opening-up for the past 40 years.