Opinions & Interviews

Experts opine on impact of coronavirus on global market

MINSK, 19 February (BelTA) -  Participants in the next meeting of the Expert Community project “Coronavirus: Economy of Fear” in BelTA’s press center projected the changes in the global market due to the COVID-19 situation.

Aleksei Avdonin

According to Aleksei Avdonin, an analyst at the Belarusian Institute for Strategic Studies (BISI), the United States, European countries can use the situation with coronavirus to explain their desire to reduce the presence of Chinese companies on the national markets. At the same time there is competition for Africa. “We can say that the fight for the African continent has begun. Many companies, both European and American, are redeploying their manufacturing facilities from China to Africa. This has been going on for the last five to seven years,” the analyst recalled.

Yulia Abukhovich

China itself has been active in the African market for a long time. Africa appreciates the contribution of Chinese companies to their economy and are unlikely to refuse further cooperation, said Yulia Abukhovich, a senior lecturer of the International Relations Department at the Academy of Public Administration under the aegis of Belarus President. “They invest real money, make investments, build social infrastructure, hospitals, etc.,” the expert said. She did not rule out that in the wake of the events with COVID-19 there will be some redistribution of markets. However, she refused to make more specific predictions, calling it a futile undertaking.

Viktor Shadursky

The dean of the International Relations Department at Belarusian State University, Doctor of Historical Sciences, Professor Viktor Shadursky urged not to exaggerate the influence of the United States and its allies on the global market. “The world is much bigger than the United States. We need to understand that many countries are waiting for Chinese investment, the Chinese presence," he said, naming Belarus among them. It is hard to imagine that the country, hosting the industrial park Great Stone, will be interested in reducing China's presence on its market, Viktor Shadursky added.

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