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Experts say China will replace US in this decade (2020s)

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Covid19 will not change the fundamental of the global economic goals. It only accelerates the transition that has already taken place, the so-called a move away from US-centric globalization to a more China-centric globalization. Why does this trend continue? The American people have lost faith in globalization and international trade. But China has not lost faith in this principle. Why?  Because there is a deep historical reason.

Chinese leaders are well aware that China’s century of humiliation between 1842 and 1949 was the result of dissatisfaction and attempts to secede from the world. On the contrary, the strong growth of its economy over the decades is the result of globalization. The Chinese people are also confident that they have the ability to compete anywhere in the world.

Therefore, the United States has two options for this crisis. First, if the United States’ main goal is to remain the number one in the world, the United States could use a zero-sum geopolitical contest with China, both politically and economically. Second, if the United States focuses on the well-being of the people who are now in this dire situation, then the United States must cooperate with China. A good choice for America is cooperation. (Kishore Mahbubani is a scholar and former Singaporean diplomat).

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