earticle

영어

This article makes three JXlints about the post-COVID international JXllitical economy, the first of which is that the pandemic is fur from over. Rather, it is moving into a completEly different phase when developing countries, rather than advanced industrial states, will be its victims. The consequences include not only more severe public health risks, but also a wave of debt crises in both low-income and middle-income countries. The second JXlint is that the pandemic is likely to generate ideational changes. Despite populist backlashes, publics will demand that governments develop the capabilities to protect them, not only from health shocks but from economic ones as well. State capacity will come to the fore. Finally, looking at the US-China relationship, we should not count on a snapback under a Biden administration. Although we can expect a shift toward more multilateral approaches to the Asia-Pacific, Democrats have their own reasons to limit risks from China; the trade war-broadly conceived-will continue even if on new turf.