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As the fourth-largest semiconductor company in the world, Micron offers a wide array of memory and storage products and solutions. Mehrotra said the long-term trend of rising demand for memory and storage is exciting, and will make possible revolutionary technologies such as artificial intelligence, 5G and autonomous driving.

As the world's second largest economy, with robust domestic consumption and a healthy financial system, China is one of the prime drivers to pull the world out of recession, said Tangulrat.

As the Chinese economy gears up for slower but more sustainable growth driven by domestic consumption, it opens up more opportunities for multinationals like Osram, he said.

As protesters in the United States began turning their initial outrage over the death of Floyd into demands for police reform and social justice, Democrats are proposing to overhaul legal protections for police and to fight systemic racism in the law enforcement.

As urbanization further progresses and the population of the middle class further expands in China, China's consumption market scale will keep enlarging. "There are still huge growth potentials for US exports to China in the future," Xu added.