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"Fed monetary policy has largely become irrelevant as demand contracts at multiple levels linked to the twin shocks from supply-chain disruption and now the plunge in oil prices," Manish Shah, chief investment officer at Toolbooth Strategy, told China Daily. "Consumers will enjoy lower prices for a while, until the shale gas producers start going out of business and then the banks in Texas feel the pain."

"Demand drives development," said Liu Wei. "We should give new things enough space to develop, and allow it to evolve with the market."

"Families need support from their governments and their employers to weather this storm and safeguard their children's learning and development," UNICEF Executive Director Henrietta Fore said in a release accompanying the policy brief, "Childcare in a global crisis: The impact of COVID-19 on work and family life."

"Dual circulation is the road our country must follow to achieve high-quality development and deepen reforms… the key to fulfilling domestic circulation is to eliminate shortcomings in this regard," said Huang Qifan, vice-chairman of the China Center for International Economic Exchanges.

"Diplomatic options remain viable and open, for now," Secretary of State Rex Tillerson said after the reported launch of the missile.