The entire world witnessed and became a victim of the deadly coronavirus since the beginning of the year. This was due to the careless actions of one country, China. Globally, as of July 15, 2020, there have been 13.8 million confirmed cases, including 5.9 lakh deaths. The United States of America (U.S.) is the most affected country, with 3.53 million confirmed cases. It cannot be denied when the U.S. officials believe that China ‘covered up’ the outbreak of the virus in December 2019.
As per the report by the Department of Homeland Security, dated May 1, 2020, the Chinese leaders ‘intentionally concealed the severity’ of the pandemic from the world in early January 2020.
China’s undying desire to be best
The fatal pandemic has divided the world’s period as ‘Before Corona’ (B.C.) and ‘After Corona’ (A.C.). The Chinese economy has enjoyed around thirty years of ‘explosive growth’, and there is no doubt that it is not willing to back down. When all economies are suffering, the Chinese economy has started to return to its former splendour.
As per the figures released on July 15, 2020, the world’s second-biggest economy returned to growth during April to June 2020. Experts have mentioned that the figures are way higher than what they were expecting.
During the global pandemic, the Chinese economy has successfully portrayed a ‘V-shaped economy’. A V-shaped economy is one which had experienced a sharp fall in the beginning, but was able to recover quickly. China also avoids getting into a technical recession. Also, the Chinese government has been coming up with measures that aid in boosting its economy, including tax breaks.
Tensed world, except China
China is known for being the frontrunner in trade and economics; its increasing growth is proportional to rising tensions across the globe, wherein it has been and is feeding at the cost of other nations’ power as they are ‘economically weak’. China exploited the situation by ‘tempting’ investments, which were intended to push the other countries into ‘debt traps’. This will enable China to acquire assets strategically and empower its objectives at the least possible cost, and this is mainly governed by the country’s governance model and the role of the Chinese Communist Party (C.C.P.)
Few notable responses of other Countries to China’s financial roar
United States of America
The Trump Administration has talked about resorting to Asian countries, other than China, to help produce essential goods. Mr Donald Trump went on to add that the U.S. A would “save $500 billion” if it cuts ties with China. The United States Secretary of State, Mr Mike Pompeo (whose Department announced an Economic Security Strategy in 2019) had named Australia, New Zealand, Japan, India and South Korea as the ‘alternatives’ with whom the U.S.A. has been talking to regarding the supply chains.
On July 13 2020, Mr Mike Pompeo stated China’s chase after resources in the South China Sea as ‘unlawful’. He had further said, “The world will not allow Beijing to treat the South China Sea as its maritime empire.”
We are strengthening U.S. policy on South China Sea maritime claims, according to international law, in rejection of Beijing’s intimidation, bullying, and claims of maritime empire.
Amid the ongoing India-China dispute, New Delhi has taken the drastic step to get rid of Chinese goods. Despite being dependent, India is trying its level best to come up with similar alternatives and local content, thereby trying to eliminate Chinese hold on the Indian market.
In an interview with The Economic Times, Sameer Raje (Head at Zoom, India) said that he was ‘shocked’ at the resemblance between JioMeet (H.D. video conferencing app by the Indian Telecom, Reliance Jio) and Zoom. The Indian citizens are also with the movement to cut off all relations with the Chinese.
United Kingdom (U.K.)
In 2015, George Osbourne, then Chancellor, had ensured a ‘golden decade’ for Britain-China relations as he assured of new trade opportunities and further investments. Halfway through the so-called decade, the U.K. decides to ban the Chinese telecom giant, Huawei, from supplying 5G network equipments from December 31 2020 and also remove the present Huawei kits from the U.K. networks by 2027. This was all after China had imposed a harsh new security law in Hong Kong.
Liu Xiaoming, the Chinese Ambassador at the U.K., expressed his ‘frustration’ to the situation, which are evident from his tweets:
China has always seen Europe as an equal partner rather than a rival. China’s development creates opportunities rather than challenges, still less threats, to Europe. Both should deepen mutual trust and achieve win-win results through cooperation. https://t.co/APOckNXKSo
Britain can only be Great Britain and exert a global influence when it has an independent foreign policy. Otherwise it is just a junior partner of the US. The decisions on #Huawei are not about security risk, but political pressure. https://t.co/kMvCSHFH7L
#UK’s decision is very disheartening. #Huawei has made important contribution to jobs and growth in UK since it comes here nearly 20 years ago. The way UK treated Huawei will be followed very closely by other Chinese businesses and influence their confidence. https://t.co/gubXfhPoIn
In addition to the above, China has entered into fights with the following countries:-
While China is clearly recovering from its inflicted state, the other countries are trying their best to resist the influence of the Chinese in their country’s trade, market and economic activities. Considering China’s ‘broken’ relationships with several countries, it could be difficult for the Chinese to dominate the world market even in the ‘After Corona’ phase.
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