The relationship between China and the rest of the world is going to change fundamentally. Actually, it started earlier with Trump. But this has been a turning point. It doesn’t matter how the West recovers or whether Trump is re-elected or not; there’s going to be a change.
China is going to be displaced from the international stage and now has to exploit its domestic market so that it doesn’t depend so much on the outside world, but it has the advantage of having learned a lot from the West with globalization and having created its own technology and the Internet.
There will not be a sudden total decoupling, but a reduction in dependence on China, which is an important part of the global supply chain and a large market for Western companies
The Chinese government has tried to take advantage of an unprecedented health crisis not only to demonstrate its ability to overcome it quickly, but also to expand its diplomatic influence, improve its image with “mask diplomacy” and challenge the hegemonic status of the United States. But Beijing’s aggressiveness and inconsistent story has made the coronavirus crisis evidence of how much the world depends on China’s medical and pharmaceutical products, leading the U.S. and its allies, if not to decouple completely, to reduce that dependence.
More than mitigating the economic and geostrategic competition between the US and China, this planetary health crisis has intensified the new Cold War between the two powers. While it has hurt the prestige of the US, it has demonstrated China’s lack of leadership.