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"Chile was the first Latin country to sign a free trade agreement with China. It's also the first Latin country to upgrade its free trade agreement with China this year, with 98 percent products listed as tariff-free.

"Cheap prices were offered to us because the buyers knew that we had come a long way and if we didn't sell the milk, we wouldn't find any other buyers in time. The milk could go off and we might not make anything."

"But the science is clear and the evidence irrefutable: mask-wearing, social distancing, and limits to social gatherings are vital to helping prevent transmission of the virus," he said.

"China is the world's second-largest economy and is already the largest global trading partner for Germany and South Korea. With China becoming a strong import and export market, coupled with rising domestic consumption, there are opportunities for further trade growth with its partners," Huang said.

"COVID-19's resurgence is bound to have an economic effect, both as local governments introduce measures to curtail the spread and as consumers change their behavior," Patrick Harker, president of the Philadelphia Federal Reserve Bank, said in a speech to the Wharton Private Equity and Venture Capital Alumni Association.