- The US is trying to quantify the damages to their economy done by China due to the Coronavirus.
- EU member nations are calculating their losses as well.
- The world will never look at China in the same light.
Coronavirus has been on the forefront of the majority news outlets around the world. Currently, there are over 2.4 million cases around the world and over 165,000 deaths.
A majority of countries are starting to slowly reopen their economies and ease their state of emergency restrictions. US President Donald Trump announced over the weekend a reopening strategy with phase 1 and phase 2. In the US governors are the ones who will decide when to reopen individual states for business. Japan is quite the opposite and only now declared a State of Emergency and a mandatory quarantine.
Coronavirus has exposed severe flaws in the developed nations pertaining to protecting their citizens and being medically ready. Clearly, the risk assessment and risk control failed in many nations. China did suppress and continues to suppress data pertaining to the virus origin and their true actual numbers of infected.
Italy completely failed to protect its medical professionals from being infected. Thus far, it has zero means of dealing with the pandemic. In the US, the State of New York continues to be overwhelmed with the number of infected. The virus spread was one of the highest within the US. One of the main reasons is lack of border closures in time as New York is one of the most traveled cities in the world.
The EU nations and many others showed failed leadership during coronavirus and the World Health Organization was completely inept. WHO is supposed to protect the world, and instead receives a failing grade.
China did not report or inform about the danger of the virus in time, and China did not take measures to prevent the spread of the virus to other countries. China has made many Excuses. If you talk a lot and convincingly, it is possible that the population will believe it.
China is working overtime to show the world how coronavirus is no longer a threat to their nation. The images and videos continuously being released are of large crowds attending a myriad of attractions. China also claims manufacturing has resumed at the 90% productivity.
Additionally, China is trying to show its philanthropic side by sending planes loaded with medical supplies around the world for free. Yet, this is the same government that never contained coronavirus within and is liable for over 164, 000 deaths around the world. That is not withstanding the suffering of many infected and the angst of people around the world from both financial destruction to their loss of a sense of safety.
A US Attorney and a group of individuals have already filed lawsuits against the Chinese government seeking damages. It has not been tested in court as of yet and it would be interesting to see the outcome. It would be wiser to persuade the International Court in the Hague to prosecute Chinese government officials and responsible parties for Crimes Against Humanity as a result of coronavirus. At the least they are guilty of criminal negligence.
The US Government is analyzing data to quantify the damages caused by China to the United States. The preliminary number is close to $10 trillion, but it has not been confirmed. It is plausible to expect EU member nations, such as Italy, UK, France and Germany soon to follow with their data and quantifiable losses sustained.
China is very likely to refuse to pay and even during the peak of coronavirus frowned upon cancelled flights and every travel advisory about China. The only way to get any results from China is to reroute supply chains, stop manufacturing orders and overall stop any new contracts with China or any international collaboration.
The impact of the coronavirus will change the course of the US-China trade agreement. China no longer has any leverage left in these negotiations going forward. More than likely, China will have to settle for what the US offers, if an offer even will occur. The outcome of the US Presidential election could tweak the tactics going forward, even though it seems Donald Trump might be re-elected in the fall of 2020. In the democratic election process, the outcome is not for certain. Trump’s base has a lot of angry supporters, as they feel cheated by his agriculture policy and his failure to act sooner pertaining to the border closures.
Russia will support China at this time, as it supports Chinese propaganda against the West and provides troll fertilizer for social media support. Russian media and social media is spinning China as a hero, predicting a bright economic future and that their reopening of the economy will add to Chinese wealth. All of this is an attempt at social engineering propaganda to win over former Eastern Block nations.
China is trying very hard to add a positive light to their animal treatment, including declaring dogs as pets and no longer appropriate for consumption. It is a small step in the right direction, but overall China has a horrible track record of mistreating animals and the consumption of raw animal meat.
At this time, a huge coalition is being formed against China. The United States and the EU, UK, Canada, the entire “collective West” and their satellites have given China a verdict. They stand ready to resolve the issue by weakening China.
More than likely Chinese goods are going to be shunned. I think the populous overall will not want to purchase China made goods any time soon. Conglomerates like Walmart will feel the effects and will have to rethink their supply chains going forward. Sadly, Sam Walton created a great store and concept, only to be overtaken by corporate greed and in the 1980s outsourcing US manufacturing to China and a push to sell low quality products. All of which betrayed middle class Americans and choked small businesses in small towns.
China will rely on BRICS nations for support. The Kremlin will show support but China would have to bow to Putin to a certain degree. Of course, China will amp up efforts at cyber warfare and continue efforts to steal classified information and technology.
The world will not look at China the same and it is highly doubtful China will fully regain their past economic traction.