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"China is transforming its economy into one driven by consumption, services and innovation and many industries in the two countries, particularly the services sector, can complement each other's advantages," he said.

"By doing so, the bank will be able to control its nonperforming loan ratio actively, rather than dealing with the issue passively," Liu said.

"But the US hasn't thought through what their actions might lead to and how it's going to impact adversely on the US," he said. "It is a very short-sighted move, because ultimately you can't prop up inefficient industries forever."

"Certain regulation is necessary," he said. "But as ICO has been such an efficient way for tech companies to raise funds, I believe it is more likely to be a short-term ban until they can regulate it efficiently."

"But when countries distrust one another and each country feels that it is on its own, governments hesitate to take such drastic measures," Harari wrote. "If you think that other countries will then come to your help — you will be more likely to adopt this drastic measure."