The coronavirus epidemic will have a much greater impact on the disengagement of the economies of the United States and China than the US-led trade war.
This opinion was expressed by an employee of the Asian department of the Milken Institute Curtis Chin.
Speaking about accelerating the separation of the economies of the United States and China, Chin said:
More than war, the coronavirus has accelerated the separation of the economies of the two countries, as companies worry about their supply chain in the long run.
According to the analyst, gaps in the established supply chains resulting from the epidemic will lead to the fact that American companies will transfer their production to the territory of the United States and neighboring Mexico, which will create new jobs and make the supply process more stable.
Chen noted that despite the signing of the first stage of trade agreements between Beijing and Washington, trade between the United States and China has been frozen, as evidenced by the lack of active negotiations between the two sides.
The Milken Institute was established by the American financier and philanthropist Michael Milken, who made a fortune in the high-yield bond market and managed to spend 2 years in places not so remote for fraud in the bond market.