Coronavirus and the death of ‘connectivity’
The COVID-19 pandemic is the second major crisis of globalization in a decade. The first was the global financial crisis of 2008-2009, from which the global economy took years to reach a semblance of recovery. We did not learn our lessons from the first, and this is perhaps why the impact of the second has been even more massive.
China’s economy: Powerful but vulernable
China’s economy is often presented as a powerful engine. This is, however, only one face of it. It has also been marked by vulnerabilities, and these have become more obvious over time, as the costs of high-speed growth have rebounded on the country, giving rise to social tensions that are straining the capacity of the reigning Communist Party to contain them.