Impact of Covid-19 on US-China Relations
The United States and China have been engaged in trade war for the past two years. The United States has claimed that China has failed to fulfil the commitments that were made upon its joining the World Trade Organization in 2001 (Lau, et al., 2020). However, the tension between the two countries was somehow reduced in 2019, when China was agreed to increase its acquisition of U.S. energy, farm, manufactured products and other resources by at least USD 200 billion. In late December 2019, the COVID-19 pandemic which was originated from China spread across the globe and the United States blame China for the spread of the global pandemic.
China and the United States represents almost 40 per cent of the world’s economy and they should work collaboratively to eradicate this pandemic. Due to the COVID-19, the unemployment ratio in the United States was increased since the Great Recession. The United States calculates that the global economic losses may be up to USD 2 trillion (Walmsley, et al., 2020). On the other hand, the economy of China is also expected to shrink as a result of a pandemic since 1976. Bloomberg reported 20 per cent fall in the GDP of China in 1st quarter of 2020 along with the rate of growth about only 1.4 per cent.
To conclude, the United States and China must collaborate with each other to minimize the impact of COVID-19 in the world. This collaboration of these two countries may lead to improve economic stability and global health.
