Trade disputes with the U.S. and a lowered economic target are serious factors indicating that China is entering a new phase economically. What will be the pillars of the Chinese economy in the next chapter? What is the consumptive potential of Chinese society? What kind of leadership will be needed globally in the era when globalization is facing hurdles? 

Li Daokui, director of the Center for China in the World Economy at Tsinghua University, said in the show recorded in the Boao Forum for Asia that entrepreneurs need to be motivated by government policies, not opposed. 

"If we look back over our past 40 years, It has been always the case that we have positive cases for entrepreneurs and government officials to follow. Currently what we have is the policies what to do this and what not to do that," he argued. The government needs to encourage businesses and entrepreneurs to be creative, let them contribute to the progress and development of society.

When it comes to whether middle-class consumers are playing a vital role in promoting the domestic economy, Li said that the size of the middle-class in China is approximately 300 to 400 million. 

And these people have unfulfilled demands like better education, better housing, and medical care. If we could cope with their demands properly, it will exert a positive effect on our economy.  

"However, if we took a longer-run perspective, the much more important homework to be done is the other one billion population who has not made it," he said. Once they have entered into the consumer class, China's economy will be boosted.

After that, he said that the world is now entering the era of de-globalization with a lot of uncertainties. "The U.S. used to be the most powerful country in the world, but the U.S. is tired." The reason is that, firstly, if you want to be the center of the world, your market should be number one; however, U.S.'s ability in terms of consumption is no longer growing for the domestic market in the U.S. is shrinking. Without the largest market, it is hard to persuade others to follow your rules.

Secondly, in order to maintain its prestige, a country should be absolutely advanced in some areas, which was finance and technology for the U.S., but there are other countries catching up. 

Thirdly, you have to be able to redistribute domestic income and make adjustments so that winners in globalization could compensate the losers, and the U.S. is lacking in this regard. 

Due to the mentioned reasons, instead of fighting just for its own, all countries should come to together to maintain the current world order.