Xu Sitao, chief economist with consulting firm Deloitte, said Asia could help set a gold standard on trade liberalization at Thursday's Global Business show. According to Xu, Asian countries are extremely diversified in terms of per capita income level, and they can set good examples on how rich countries and developing countries would bring down trade barriers and work with each other. Xu said that by staying united, Asia – with its pragmatic policy makers and pro-business environment – would manage to mitigate external shocks.