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"Changsha has the comparative advantage in manufacturing, so we see upgrading the manufacturing sector as the key to driving high-quality growth of the city," said Hu Henghua, Party secretary of Changsha.

"But we cannot be taken advantage of," Trump added.

"Cheap and abundant labor is the most often-mentioned comparative advantage of developing countries. However, this has not been the only reason for the robust development of China over the past four decades," said Fan, also chairman of the China Development Institute.

"China can position itself as a world leader, with expectations that autonomous vehicles will be capable of being deployed by 2025 or 2030," Philip Ng, a partner at KPMG in China, wrote in a research note. "Key drivers include the scale of China's auto industry as the largest market in the world by production and sales and its focus on technology and innovation, supported by the 'made in China 2025 plan'."

"China has been consolidating debt management and has been very careful about conducting thorough analysis of every infrastructure project that involves loans from China," he said.