So far, China has overcome the consequences of coronavirus epidemic within its territory and is gearing up for an economic breakthrough. Alongside this, Beijing is going to gain geo-economic and geopolitical power in the world.
China’s economic indicators will likely show significant improvement in the second quarter of 2020, People’s Bank of China Deputy Governor Chen Yulu said. China’s economy will return to its potential growth by the end of the year, provided there are no recurrent disease outbreaks within its territory. That will take place amid economic problems in most of the world. Apparently, China intends to use this period for its economic and political growth.
China has not diminished its presence in global projects of its interest during the epidemic. For example, China’s investment into the countries along the Belt and Road grew by 18% year on year to $2.72 billion in the first two months of this year. The cost of construction projects signed by Chinese enterprises in 59 countries of this geo-economic project in January – February of this year, amounted to $15.36 billion. China’s non-financial direct investment in 147 countries amounted to about $15.5 billion altogether for the same period, an increase of 1.8% year on year.
That happened in the face of COVID-19 coronavirus pneumonia epidemic’s impact on the economy. Now, having overcome its main consequences, China will only speed up.
China is seen to be actively rendering assistance to other states. The off-board anti-virus aid offered by China is an unprecedented emergency humanitarian operation by intensity and scale since the state was formed, the China International Development Cooperation Agency Vice Chairman Deng Boqing claimed. Chinese medical staff and medical supplies have been sent to 28 Asian countries, as well as to 16 European, 26 African, nine American and 10 South Pacific states at end-March. Assistance is provided by various sources, but each action is undoubtedly an element of a concerted strategy.
The central focus is on the regions of Beijing’s geo-economic and geopolitical interest. Therefore, the Chinese elites are trying to strengthen their influence and spruce up China’s image in certain regions, taking advantage of the fact that other major geo-economic actors are reducing their presence on the global stage over the epidemic.
China puts emphasis on Pakistan, Kazakhstan, Kyrgyzstan, Uzbekistan, Mongolia, Malaysia, Indonesia, Thailand, Myanmar, Cambodia, Laos, Bangladesh, Iran, Serbia, Ukraine, Georgia. In the EU, the focus is on assistance to Hungary, Croatia, Italy, Spain, Holland, Portugal, Luxembourg, France.
In Latin America, assistance was or will be provided to Argentina, Brazil, Chile, Cuba, Ecuador, the Dominican Republic and Peru. Extra attention is paid to Venezuela and Ecuador.
In Africa, where China is strengthening its hand every year, the aid was targeted to 54 African countries. Ethiopia, Senegal, Benin, Namibia and Zimbabwe – the focus of China’s geo-economic strategy in the continent – were given priority.
China is rendering targeted assistance to certain regions of Russia amid consultations with the Kremlin. For example, the Republic of Sakha received masks from Heilongjiang. This region of Russia is particularly rich in natural resources, including uranium, diamonds, gas, oil, and has fallen within Chinese companies’ area of interest for a long time.Consequently, China is trying to milk the current world crisis for all its worth to strengthen its position. Providing this strategy is successfully implemented, trade and economic ties could obviously expand and individual third world countries would finally come into Beijing’s orbit of influence.
