New World Order shaped by 5G global market share, Coronavirus, oil prices

The year 2020 gave the world a triple hit in less than two quarters. World leaders were taken unaware by the global ravaging scourge of the coronavirus, followed by the knee jack drop in oil prices which affected many economies and the war for ownership of the global market share of 5G. Coronavirus, oil prices and 5G are the new wars that are defining 2020.

The wars require no bullets or military hardware rather world economies are positioning themselves to maximize economic benefits from spoils of these wars.

The conversation is who will be first to recover from the disease, build its economy and reach out to the world? Question of the century is, between China and USA, who will emerge as the world leader post-coronavirus?

2. What are the Chances of Dying from the Virus in USA and China?

Let’s look at the figures.
As of 12 midnight yesterday. USA had 584,862 Confirmed cases, 23,555 deaths with only 36,205 that recovered from Covid-19. While in China, it had 82,160 confirmed cases, 3,341 deaths and 77,663 that recovered from the disease.

By implication, for every five (5) persons that get infected in USA, two (2) will die while only three (3) will recover while in China, for every 24 persons that get infected, one (1) will die while 23 will survive. There is 40% chances of dying if you contract the virus in USA while if you contract the disease in China, you have only 4% chances of dying. Even our Nigeria has only 10% chances of dying if you are managed in Nigeria. 
China is almost defeating the virus while something is amidst in America.

The surging number of infected persons and people dying in thousands everyday has set America on panic mode. American are forced to keep their economy under key and locks as they battle to save lives. Their economy will never be the same.

3. Which of the Two Economies is Active Now?

While world leaders have one eye on the war against an invisible enemy (Covid-19), their second eyes are on what this pandemic will bequeath the world (battered economies with increased poverty).

China was able to isolate the cities ravaged by the virus and insulated their economic hubs like Shanghai, Beijing, Shenzhen, Hong Kong and Guangzhou from the virus. These five cities have a combined GDP of $1.9 Trillion and are major production hubs.

Secondly, the Chinese are buying most of the blue-chip stocks in Europe at the cheapest cost and looking unstoppable at acquiring the “world”. After Covid-19, China will drive production in most European countries and I foresee them outsourcing most of the European jobs to China to create home jobs, consolidate their economy and weaken Europe and America.

Thirdly, as countries (including America) are overwhelmed by the virus and their production lines shutdown, the entire world is looking up to China for supply of test kids, medical equipment, food, medical personnel and basic supplies. The Global trade volume is Chinese driven and that is a quantum leap for the Chinese economy.

Surprisingly, American states are fighting over getting Chinese doctors to support their overwhelmed medical staff. It’s also worth noting that America accepted ventilators from a Russian company that was banned in USA. Mighty USA is bowing to their arc enemies.

Currently, the Chinese production is light miles ahead of USA. While USA was concentrating high tech and outsourcing lower skills, China holds both and the coronavirus is giving it a head start.
It’s worth noting that while China has created millions of jobs in the last 4 weeks, 16 million Americans have lost their jobs in the last three weeks and, Google and Facebook have lost $44 billion. America is bleeding.

4. Who has Benefited Most from Covid-19? Our collective lost across the world is the Chinese GAIN.

China is funding building of critical infrastructures in many countries and many countries are under the yoke of their loans. Most countries will soon become Chinese allies instead of America’s. It’s worth noting that America is more indebted than China and may not have the capacity to fund projects and give loans the way China is doing.

The aforementioned may likely make the yuan the next global currency. These countries may be forced by China to denounce America, make China their ally and convert their reserve currency to Yuan. That will make it easy for China to meet the over $700 billion equivalent of yuan in foreign reserves of the central banks of their ally countries to make Yuan the dominant currency of the world.

5. Conclusion

No country has maintained dominance for over 100 years. America has been the world’s police for over 80 years and it seems their time is up. 
There are clear signs that the world may soon have a new leader, and certainly it will be China. China is winning the economic war without shooting a bullet.
Are there lessons for Nigeria? Surely YES

Wait for Part 2 and 3.

Dr Nentawe Yilwatda Goshwe is INEC's Resident Electoral Commissioner (REC) for Benue State
Dr Nentawe Yilwatda, scholar and (fmr)lecturer in Digital Systems & Computer Engineering, is currently the INEC Resident Electoral Commissioner (REC)for Benue State.
Baobab Africa
Baobab Africa People and Economy reports the continent majorly from a positive slant. We celebrate the continent. Not for us the negatives that undermine the African real story of challenging but inspiring growth.

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