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"Chinatown has been going downhill since 10 years ago. It only got worse in the past two or three years," said Raymond Hong, 58, owner of Rainbow Photography.

"Climate change is real. Leaving Paris is not good for America or the world," said Musk, in an announcement Thursday he would leave Trump's council.

"Chinese companies think bigger. One notable thing is that when doing business in China, we get direct feedback from companies and leverage those suggestions to improve our businesses worldwide," Kaniel said.

"China will continue to outshine others at a time when the developed countries are expected to remain mired in economic stagnation," said Justin Yifu Lin, former World Bank chief economist, at the forum, adding that China's economy will remain robust and serve as the world's economic engine.

"Climate change, inadequate governance, insufficient access to technology and an increasing concentration of people living in disaster-prone areas have created a situation that is driving disaster risk upwards, especially in poor and fragile countries," she said. "This poses a critical threat to achieving the United Nations 2030 Agenda and the 17 Sustainable Development Goals."