By Uche Mbah
The contraction of the Chinese economy due to the Covid 19 is sending shock-waves to the world as most countries are dependent on manufacture of technological parts on Chinese firms which have all but become idle, or at best operating at low capacity. India, for example, is currently gasping for breath in medical equipment and drugs. Most drugs and equipment used in India are produced in China.
Nigerians are major beneficiaries of Chinese medical tourism.
In recent times, cost of drugs as simple as paracetamol have quadrupled in price in India. China’s own economy has nosedived based on idle factories and some panic measures taken by government in the heat of the crisis. It is on record that China had to burn $600 million worth of the Yuan, the Chinese currency, in order to contain the spreading virus. These were currencies circulated through epidermic areas. And China has postponed indefinitely their planned cashless enforcement, while the US Reserves are speeding up their own plans.
Most chips of Apple iPhone are sourced from India by the American based company and are already adding to the prices of the overtly expensive class phone. Apple has officially projected negative indices due to China’s economic crisis.
Certain coincidences that fueled speculations of what conspiracy theorists call Deep State involvement in the spread of the disease are fueled by the Social media censorship of Youtube videos critical of the global handling of the virus. Over 100 videos are allegedly removed from a site critical of the UN handling of the issue which linked it with a hidden agenda. For example, the US military was said to have held a simulation of crisis management of a possibility of an epidermic breaking in China the same day that the United Nations Force was participating in military drill in China on how to manage epidermic. This was said to be days after China reiterated their position not to give in on Taiwan and Hong Kong. It becomes interesting to note that China is also suffering a debilitating Bird Flu epidermic at the same time, prompting the country to open its closed borders against importation of American poultry.
Recently, the Chinese Giant Ali Baba warned that Covid-19 will soon trigger “a Black Swan Event”that could have severe consequences on global economy. Alibaba Group’s CEO Daniel Zhang announced this in a December 2019 result presentation of the company.
From all indications, the last may not have been heard of global epidermic in the future if the conspiracy theorists are to be believed.
