China can benefit from COVID-19 pandemic
China can benefit from COVID-19 pandemic

It seems like China may benefit from the consequences of the coronavirus pandemic. The country was hit by the virus first. However, today, the Chinese authorities have already launched the economy and are actively extending their political influence on the international stage. Meanwhile, COVID-19 continues its march around the rest of the world. At the same time, China gains advantages from cheap oil prices and sudden superiority in the trade conflict with the United States. In the war between the two world’s largest economies, the United States was preparing to defeat the enemy. However,  the coronavirus intervened and the US had to retreat. The collapse of commodity markets gave Beijing the opportunity to buy resources on its own terms. Under the current circumstances, suppliers have no other choice but to revise supply contracts and agree to sell oil for the yuan instead of the US dollar. As for political dividends, the pandemic has been beneficial for China as well. Providing humanitarian aid for other countries, the Chinese authorities are trying to spread their influence and gain the loyalty of some governments. However, Washington did everything to stop China's viral expansion. The White House openly accused China of hiding information about the origin of the coronavirus. US President Donald Trump has already threatened to impose new tariffs on a range of Chinese goods as a punishment for the pandemic.

Published: 2020-05-15 14:03:33 UTC
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