Nationalist and protectionist impulses have hampered the exchanges of knowledge and goods that foster economic growth. Similar failures of global coordination are now exacerbating the coronavirus pandemic.
With well over 870,000 confirmed infections and 40,000 deaths worldwide, COVID-19, the disease caused by the fast-spreading new coronavirus, has caused global havoc.
China’s producers hope to restore capacity in the weeks ahead, but sagging demand in export markets could hold back economic recovery.
The global economy is on extended sick leave and central banks’ actions have failed to contain the contagion.
China has tried to carefully manage relations with the United States while deploying its expanded economic and military strength around the world. The coronavirus has further strained China’s ties with the United States and raised questions about Beijing’s global leadership.
Global communication since the 1850s has always relied on an expanding web of undersea cables, but this industry has traditionally been lightly regulated and involves a wide range of stakeholders. However, data generation and use is growing in ways that make these networks more important than ever.
The coronavirus outbreak has exposed just how difficult it’s becoming for China and the United States to cooperate—even in situations when the lives of their citizens are at stake.
The coronavirus crisis has provided a live experiment of the consequences of a massive, if perhaps short-term, involuntary decoupling between China and the United States.
A new Carnegie study proposes an array of specific solutions to promote Taiwan-based innovation, better leverage partnerships with United States and other international players, and bolster Taiwan’s standing in the global marketplace.
Taiwan’s innovation advantage is in danger of eroding. It needs a revitalized and broadened strategy, more diverse investments in human capital and next-generation industries, and forward-looking partnerships with the United States.