Part 4/12:
One significant point Van Gaan raises is the shifting landscape of China's trade partnerships. Last year, ASEAN countries became China’s largest trading partners—a milestone indicating a diversification of China’s economic focus. He suggests that as these nations better control COVID-19 and recover, demand for exports might become more evenly distributed across the region, reducing reliance on China itself. This could be advantageous for Asia, fostering more resilient and balanced regional growth.
However, the professor stresses that without substantial Chinese growth, the global economy would face setbacks. The health of China’s economy remains pivotal, not just for Asia but for worldwide prosperity.