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"For that reason alone the current approach to the US-China trade dispute is flawed, as are the tariffs that underpin it," wrote Roach, a faculty member at Yale University and former chairman of Morgan Stanley Asia. "There can be no bilateral fix for a multilateral problem. That has only led to trade diversion among trading partners —imposing higher costs on consumers and producers on both sides."

"For example, if we wind up with this pandemic rooting itself in India or in Sub-Saharan Africa, we're going to need everybody to try and help figure it out," he said. "We have to do this not just because it's the nice thing to do but because it's an absolute necessity — or we're going to have such a terrible impact and burden of this kind of illness, and it's going to lead to so many millions of deaths."

"Global supplies of soybeans are sufficient to meet demand, and overall prices for soybeans on the international market are stable, both of which bode well for soybean imports into China," Tang said.

"Free trade will be good for the Asian region supply chain, which is already tightly integrated," said Ben Simpfendorfer, an economist and CEO at Silk Road Associates in Hong Kong. "Free trade will initially benefit established countries, like Singapore, Malaysia and Vietnam. The frontier markets like Myanmar might still have challenges."

"Given the impact that the COVID-19-generated crisis has had on the aviation industry, LATAM has been forced to make a series of extremely difficult decisions in the past few months," said the airline's CEO Roberto Alvo in a video statement.