In the light of the coronavirus we can assess the potential effects of an abrupt decoupling of China and the west. If the west initiated a sudden decoupling, the potential damage would be disastrous for all players.
Even breaking contracts over coronavirus is harder than it seems /Jingzhou Tao, FT, 26 February 2020/, but a disruptive shock therapy aiming for decoupling would definitely dwarf all these losses.
At first Central European countries, after all Europeans lost a lot from the shock therapy forced on us by the west in the 1990s.
Against this background, we badly need gradualism in global trade instead of a new shock therapy.
Re “Breaking contracts over coronavirus is harder than it seems”
Governor Matolcsy, MNB, the Central Bank of Hungary
