(Yicai Global) Jan. 21 -- The alumni associations of Peking University and Wuhan University in the greater New York area have held an outlook meeting for the new year, at which attendees discussed hot topics such as the global economy, China-US trade relations, and the participation of Chinese-Americans in politics and government.

Highlights included a speech by Yuanming Capital founding partner Tian Yuan on the growth story of outstanding Chinese private companies represented by Taikang Life Insurance, Xiaomi Group, Delong Steel and CCX Investment Group. He said private firms that continuously innovate can survive any economic "cold winter."

Peter Walker, a China expert and former McKinsey & Co. partner, discussed the differences between China and the US as well as the root causes of the long-standing misunderstanding toward China in western society from a historical and cultural perspective. 

A correct understanding and attitude toward Chinese society is important to improve relations between China and western countries and accelerate "healthy" globalization, he added. Walker believes that China should pay more attention to its international image while focusing on economic development.

Financial experts at the gathering also forecast the Federal Reserve's policy in 2019, expecting the US central bank to raise interest rates less than twice this year given concerns about the risk of recession and political pressure. They also anticipate the financial market will remain volatile this year.