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"China is by far the strongest market. Even now we see a little bit of trends for Southeast Asia, but that is from Chinese companies going to Southeast Asia. So you must be in China for this business," he said.

"But one of my customers, a Singapore lawyer who worked in Beijing, believed this to be the case. He told me: 'Frankie, seeing how only Shanghai and Beijing are open to the outside world, and there are no Singaporean restaurants in Beijing, yours has to be the very first in China!' I just smiled."

"China has managed to get the pandemic much better under control than Europe and the US. As a result, the retail sector has been recovering much faster in China as consumers feel more secure to be in public spaces and in stores, compared to the countries which are still strongly impacted by the pandemic," said Daniel Langer, CEO of brand strategy firm Equite and a professor of luxury strategy at Pepperdine University.

"By sharing resources, firms can lower costs in research and development, raw materials, logistics, equipment and labor," he added.

"But with the 2020 presidential election coming up, he will be alert to any loss of support among constituencies he feels he needs for reelection," Jillson said in an email interview.