Coronavirus speeds up the rise of China

English2020. márc 6.GOVERNOR MATOLCSY100WORDS

Rana Foroohar is definitely right that coronavirus has put a spotlight on the economic decoupling of China and some developed countries /FT, 24 February 2020/. Maybe it speeds up global decoupling. Maybe not.

More likely it restructures global supply chains. More coupling might come in the no-virus, virtual economy – finance, research and development, culture, edutainment, creative economy-  and more decoupling might occur in low tech, traditional sectors.

The real change will happen to China inside, not in the global economy outside. China will recognize that the “health industry” is a vital part of the military strength of a nation.

China will use its AI power to speed up breakthroughs in life sciences. They will also support the fusion of traditional Chinese and western medicine.

Sub pondere crescit palma.

Re “Coronavirus speeds up global decoupling”

Governor Matolcsy, MNB, the Central Bank of Hungary

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