The world's eyes will be on Argentina and the highly anticipated meeting between Chinese President Xi Jinping and US President Donald Trump later this month. But with no end in sight, economic and political experts have been debating on the change in dynamics in global trade. CGTN reporter Miro Lu attended one of the discussions organized by Asia House, a Britain-based centre of expertise on the region in Singapore today. Here are some of the highlights. 

MIRO LU SINGAPORE We have heard China speaking of multilateralism on multiple occasions in the recent weeks. The US, however doesn't seem to be interested in toning down its rhetoric.

While negotiators on both sides are trying to hammer out the issues for discussion between the leaders at G20, the two countries clashed at a World Trade Organisation meeting with US accusing Beijing of using the WTO to pursue non-market policies and China saying it was Washington that was flouting the rule book.

As the trade war heated up, business leaders, political and economic experts have been holding several discussions to study the impact of the trade war. The latest panel discussion was 'the Asia Trade in the New Global Order', an event organised by Asia House.

LUONG HUONG THAI DIRECTOR GENERAL OF THE MULTILATERAL TRADE POLICY DEPARTMENT MINISTRY OF COMMERCE, VIETNAM "We don't think that the frictions will be good for anyone. We have a recent study by the World Bank, that with what's happening, with the US increasing the tariff people tend to think that Vietnam will be the beneficiary in terms of increasing our export. But the study pointed out that all the goods that Vietnam can export are subject to tariff from the US, covering about 2.3 million US dollars. What's worse is that the demand whether in the US or China as well may be decreasing as a result of the trade friction."

MIRO LU SINGAPORE "One of the key points at the panel discussion was the emphasis that old global era, one where the U.S. had a more accommodating, engaging outlook towards China and the world is over and that the global economy is heading for fundamental changes."

DR WANG HUIYAO, FOUNDER & PRESIDENT CENTER FOR CHINA AND GLOBALISATION "I think that the world has seen fundamental changes, because of which the information, the technology, the mobility, capital flows, so actually we are also looking for a new global governance system, upgraded at least to the existing one to solve the issues and problems that we may have. So I think the new global era that basically emphasized the inclusiveness, sustainable development, and also liberalization of trade and investment. So that's probably the main thing of the era that we are seeing right now."

MIRO LU SINGAPORE "Dr. Wang Huiyao, who runs a Chinese think tank – however still maintains a positive outlook towards the Xi-Trump meeting later this month. Calling it a huge milestone, he says though it won't solve all the issues, it's a good step forward. Dr. Wang's positivity, however, is not shared by fellow panellist Steven Okun. Okun who is a leading figure in corporate public affairs and sustainability said that until there is the talk of China's transformation from a state-led economy to a market-driven economy, there is little chance of progress. For now, we will have to wait and watch to see whether the dinner diplomacy between President Donald Trump and President Xi Jinping reaps any results or not."