Is Coronavirus Rearranging The World Superpowers?

CoronavirusRearrangingTheWorldSuperpowers-InfinityGalaxy
February 2, 2021
3 minutes

In 1898, “The Treaty of Paris” was signed by the United States and Spain to end the war between the two countries. It was the birth of a new superpower called the United States of America in the world.

The global disasters such as World War I (1914-1918), the Spanish flu pandemic (1918-1920), the Great Depression (1929-1940), and World War II (1939-1945) could not debilitate the great power of America notably.

According to the data available, 0.5% of the U.S. population died during the outbreak of the Spanish flu (1918-1920). The death of 550,000 people meant a shock for the American labor force. However, the GDP did not collapse as much as it did in 2020.

The United States and the former Soviet Union had been the world’s largest superpowers since World War II. Then in 1948, the United States of America implemented the most successful foreign policy project. They decided to help the Western European countries. The act was enormously prosperous for the economy of the United States as the first superpower.

Indeed, no incident could change The U.S. position in the world until 2019.

The Asian sleeping dragon, China, who was one of the most underdeveloped countries started to execute new reform measures in the late 1970s. Consequently, China rose to take the position for one of the greatest powers of the world. China’s gross national income (GNI) grew to about $8227 billion in less than 34 years in 2012, while it was just $150 billion in 1978.

According to the International Monetary Fund and the World Bank, the U.S. real GDP growth was about 2.2% in 2019. Meanwhile, China real GDP growth was 6.1% and the world’s real GDP growth estimated about 2.8%.

In 2020, with coronavirus pandemic, the U.S. real GDP growth fell to -4.3 while China real GDP growth was about 1.9% and the world was about 4.4%.

With the start of global vaccination in 2021, the worldwide situation set to improve. Nevertheless, the average U.S. real GDP growth is estimated about% for years 2021 to 2025, while China expects 6.16% growth for a similar period.

Preliminary studies show that the economic damage caused by pandemic has been so severe that the U.S. faced difficulty to get back on track. Contrarily, China is rapidly taking the position as the first superpower of the world. According to the latest forecasts of the International Monetary Fund and the World Bank, China will become the world’s largest superpower by 2024 and take this position from the United States after years. Meanwhile, other Asian countries, including India and Indonesia are developing significantly fast.

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Ahmad Reza Yousefi

February 2, 2021
3 minutes
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