– After the corona epidemic, the global economy has worsened due to the Russia-Ukraine war, and the China-Taiwan war will worsen it.
New Delhi: Right now, the eyes of the whole world are on Asia. After US-Speaker Nancy Pelosi’s visit to Taiwan, war bells are ringing in Asia. China has begun its largest military exercise in the Taiwan Strait. On the other hand, while criticizing these steps of China, Taiwan has said that it is fully prepared for war. But if a war breaks out, the global economy is likely to suffer huge losses. It seems certain that China’s economy will suffer the most.
After the corona epidemic, the global economy has deteriorated due to the Russia-Ukraine war. If there is a China-Taiwan war, it is likely to create a crisis in the global economy.
If we talk about China, its economy is export dependent. It exports mostly to America. According to data from Trading Economist, China exported 55.97 million dollars in June this year. Hong Kong is the second largest exporter after the US. Japan is third, Vietnam fourth and India fifth. Germany is 6th, Netherlands 7th, Malaysia 8th, Taiwan 9th and Thailand 10th.
If there is a war, exports to these top-ten countries will stop, after the Corona epidemic and the Russia-Ukraine war, this will be a heavy blow to the world. Taiwan is the largest producer of chips. So smartphone, auto companies have to stop production.