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The world is struggling to cope simultaneously with the convergence of thecoronavirus that is impacting health, trade and commodities and the decouplingbetween China and the United States. This decoupling started earlier than thepandemic. China’s shares in US imports decreased since 2013 and plunged in 2019, but the economic and political impact caused by coronavirus is multiplying in pace, intensity and cost. As Dalia Marin, Chair of International Economics at the University of Munich observes the coronavirus pandemic might reduce supplychain activity by 35.4%, pushing firms to reconsider the costs of offshoring andtaking advantage of cheap ‘robotization’ to re-shore production. An acceleration in decoupling clearly poses a challenge to China’s global role as the main offshore manufacturing hub.
Against this background, Prof. Enrico Fardella, the Director of the ChinaMed Project wrote on China's approach to the Mediterranean region in one of the KFCRIS weekly reports on the regional and international impacts of coronavirus (COVID-19).
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