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As WTO members discuss all this, they will also have to deal with the threat to the dispute settlement system of the WTO. The 164 economies which make up the WTO’s membership account for 98 percent of global trade — and all of this is underpinned by the WTO's dispute settlement system. This is the mechanism through which members hold each other to account for perceived infractions and which prevents trade disputes from escalating into much more serious confrontations. As such, it is one of the fundamental pillars of global economic governance — and it is highly effective. Many disputes are resolved before they reach the litigation stage, but when they do proceed to that stage compliance with rulings is very high, about 90 percent.

As foreign investors reach out to emerging markets, and with Chinese market and domestic investors' growing appetite for global asset allocation, Sun finds asset managers in Hong Kong well placed to seize the "two-way" opportunities.

As UBS's Deng cautiously explained: "How markets move from here will depend on whether trade negotiations bear fruit or come to nothing."

As an increasingly mature economy, China is moving up the value chain by rapidly developing its service and advanced manufacturing sectors. Foreign Direct Investment (FDI) in China reflects this transition.

As a result, she no longer does such chores. Instead, she walks around the courtyard for exercise every morning, he said.