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"Empty-nest" just a label

"Farmers in Iowa know far too well that the trade war has caused real financial pain in the heartland," Grassley said in a statement. "But we need to know more about this deal, and follow-through from China will be key."

"Even with manufacturing challenges and the potentially longer and more pervasive challenges that may exist in some of the service sector, we still see growth across China and that being a key source of global growth," said Peter Reynolds, partner and head of Oliver Wyman China.

"Enterprises investing and operating in BRI countries point to often serious levels of tax uncertainty that arise from poorly drafted, unclear or complex tax rules, excessive documentation requirements and unpredictable or inconsistent tax treatment," said Lewis Lu, head of advisory services provider KPMG China.

"Demand from the cargo freight market has also dropped, but the declining volume is much less than commercial flights. Now, most airlines are carrying out belly-hold operations to transport medical supplies, and it will help to lift revenues. But the limited number of flights and freight volumes won't help much with profit-making," Lin said.