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However, Lee pushed back and went ahead with the plan to erect the statue in Chinatown.

However, discretion seemed to be a scarce trait: In the 1870s and 1880s, about 500 anti-Chinese riots broke out in the US. "Apart from California, there were very violent incidents in the mining communities or agricultural towns in Oregon, Idaho, Washington state, Wyoming, Nevada … where there was big competition for labor," Moy said. "But at the same time, a lot of antagonism towards the Chinese was based on race instead of economic competition."

However, Chinese products rely mainly on quantity and price advantages in international competition, while lacking core competitiveness and added value.

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Hospital workers carry in the first victims of an oil tanker explosion in Bahawalpur at Nishtar hospital in Multan, Pakistan, on June 25, 2017. [Photo/Agencies]

Horacio Reyser, the secretary of International Economic Affairs at the Foreign Ministry, said Argentina's exports to the Asian giant were still "low" and could be increased.

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However, Cheung stressed that there is no massive brain drain in Hong Kong, whose advantages and competitiveness are still recognized by international institutions.

However, as some of the manufacturing industry has been shifting westward from comparatively developed regions like Jiangsu, Zhejiang and Guangdong provinces, consumption growth of refined oil products in these regions will be slower than that of inland areas, the institute said.

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However, Zhang Yide, a sales manager at car retailer BLD Auto, told Chutian Metropolis Daily that it will take some time for people to see the results.

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