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"From World War II onwards trade liberalization under the old General Agreement on Tariffs and Trade culminated in the creation of the World Trade Organization. But these efforts focused on tariffs and legal aspects of globalization such as international standards while failing to deal with creating the material economic underpinnings of globalization such as infrastructure," he said.

"Fremont has zero tolerance for any kind of hate crime," she said.

"Good air sells for a good price. I will take good care of my trees," Li said.

"Globally, China is second in the world in the number of unicorns - companies valued at billion or more. And the government has started to strategically invest in innovation in key areas, including self-driving vehicles, artificial intelligence and drones," said Shapiro.

"For multinational corporations, more decentralized decision-making at the country level, faster rollout of products, and more localized endeavors to stay tuned to customers' needs are some of the decisive factors for their outperformance," Jason Yu, managing director of Kantar Worldpanel and one of the authors of the report, said. For instance, the role of e-commerce has moved from the periphery to the forefront in many businesses of multinational brands in China.