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As methanol vehicles see a promising future, doubts are also rising. Some are worried that methanol contains toxic substances, which could be harmful to humans and the environment.

As investment rates were significantly higher in China than in other countries, many economists believed that China had been relying too much on investment to drive economic growth, which not only generated overcapacity, but also a high leverage ratio in the corporate sector. Based on this premise, China's economic downturn could be blamed on excess aggregate supply, rather than insufficient aggregate demand, hence the need to cut overcapacity and deleverage.

As part of China's core traditional values, thrift has been enshrined in clauses in the Constitution and upheld by legislation including the Agricultural Law and the Civil Code enacted in late May.

As islands around the world grapple with similar challenges, some authorities see the pandemic as an opportunity for change. Before they open the floodgates to mass tourism again, some are questioning how much they want to go back to that model.

As part of "Ford China 2.0" strategy, Ford is setting up four centers in China, focused on innovation, design, products and new energy vehicles respectively.