The ongoing trade spat between China and the US has become a global issue of concern. It's also a major topic of discussion at the Boao Forum for Asia. CGTN's Yang Chengxi reports.

YANG CHENGXI BOAO, HAINAN "The Boao Forum for Asia is the first major international business and economic conference held after the recent escalation of trade tensions between China and the USA. Whether the world's two biggest economies will engage in an all-out trade war, is one of the biggest topics of conversations here."

ZHANG YANSHENG, CHIEF RESEARCHER CHINA CENTER FOR INTERNATIONAL ECONOMIC EXCHANGES "The world's GDP growth, trade and industrial growth have come a long way in the past ten years back to normal. But the tariffs are casting a shadow on the hard-fought world economic recovery."

KENT CALDER, PROFESSOR JOHNS HOPKINS UNIVERSITY "Both China and the US, I think hold some major cards in their hands. On the American side, of course, the fact that there is a 375 billion dollar US deficit with China presumably does give the US some leverage. On China's side, its holdings of US treasury bills and things like that, of course, is an important question."

YANG CHENGXI BOAO, HAINAN "Both countries are targeting specific sectors when raising tariffs. The USA initiated the fight by aiming at high-tech industries in China, while China retaliated against US sectors like soybean and automobile. The proposed tariffs have yet to come into effect, and when they do, it will be the businesses and people in these industries that stand to suffer the most."

ZHANG YANSHENG, CHIEF RESEARCHER CHINA CENTER FOR INTERNATIONAL ECONOMIC EXCHANGES "The US is targeting the sectors in the Made-in-China 2025 strategy. China used to be a world factory that makes goods for other countries in the past 40 years, and now the Made-in-China 2025 plan aims to make China's economic model more innovative and green. When the trade friction targets this strategy, it impacts the future livelihood of 1.4 billion Chinese people. That's not fair."

YANG CHENGXI BOAO, HAINAN "Participants at Boao are eager to listen to any new remarks from top Chinese leaders on the trade tensions. And most analysts say China is not likely to show any sign of backing down from the fight." Yang Chengxi, CGTN, Boao, Hainan Province .