As COVID-19 cases hit new highs in the U.S., it’s clear this scourge isn’t going away anytime soon. Besides all the short and medium term issues, another point to consider is the disease’s impact on bigger trends.
The coronavirus’ effect on the digital revolution for instance has been much discussed—basically the pandemic serves as an accelerant—Exhibit A being the fortunes of the FANG companies and their ilk. Much less recognized though is how the pandemic is reshaping another mega-trend, that being the rise of China and more particular to us, our relationship with the Chinese.
It’s a complicated scenario because there’s the effect of COVID on China’s economic growth and ambitions, mixed in with an on-going trade war, plus President Trump’s campaign rhetoric. Teasing this out is tricky, but bottom line: I think that China is going to end up in better shape than the U.S. after COVID.