The Economic Impact Of The Coronavirus On China
The Coronavirus is continuing to spread in China. The Death toll is 900 plus, and there are about 40,000 confirmed cases. Most of the deaths have occurred in mainland China in the city of Wuhan. However, the Coronavirus has spread all over the globe affecting two dozen countries. As a result, the disease is affecting the global economy. When it comes to a trade and travel ban, the critical questions that need to be asked, will the Coronavirus destroy the Chinese economy, and how will the Coronavirus effect US-Chinese relations?
Currently, the Chinese have been using their economic power to buy global influence. For example, the Chinese have been using their wealth to put countries in debt to control them. Second, the Chinese are using their economic power to rebuild their military. If the Coronavirus continues to spread and kills more people in China, then Chinese economic power will decline from cities becoming quarantine and companies not conducting business in China. The Chinese government failed to stop the Coronavirus immediately by not listening to their doctor Li Wenliang, which the disease could lead to their economic collapse. At the same time, there have been significant tensions between the United States and China.
China and America have been fighting in a trade war. China has been conducting cyberattacks, stealing intellectual property, expanding its global economic control, space, and military influence to counter the United States. The disease can destroy China’s progress by becoming a global superpower. For example, the United States, along with other nations across the globe, can declare a travel and trade ban towards China because of the disease. As a result, the Chinese will lose billions to trillions of dollars to fuel their country’s expansion. Second, disinformation can also fuel panic of the Coronavirus being more deadly, which can result in a more extended travel and trade bans. Some foreign policy experts claim World War III will happen with China, but that is unlikely if the Coronavirus destroys their economy.
In the end, the Chinese economy will continue to suffer from the Coronavirus domestically from quarantine cities and businesses being on lockdown. Costing the Chinese economy billions to trillions of dollars. At the same time, nations across the globe can enact a global trade and travel ban because of the disease, which will affect the Chinese economy. As a result, the economic impact will hurt China’s ability to fund its military, space, and expansion of economic influence across the globe.
Disclaimer: The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of any agency.