CROUCHING TIGER, HIDDEN DRAGON

by Zoltán Koskovics

Having emerged from the COVID shutdown as abruptly as they entered it, Chinese companies are chomping at the bit to increase production. With the "Northern World" embroiled in a bloody proxy conflict in Ukraine, a vicious propaganda war on the Internet, and an economic confrontation unparalleled in recent history, China could reap all the benefits.

Economic changes will further dilute Western influence in international trade, weaken the position of the euro and the U.S. dollar as global reserve currencies, and shift the centre of the world economy even closer to China. The image and reputation of the West will continue to suffer as billions of people in the global South refuse to understand why they should endure the negative consequences of a quintessentially Western conflict in faraway Ukraine.

Meanwhile, Beijing is investing heavily in its own energy sector, which could soon turn it into an energy superpower, in conjunction with growing imports from Russia. Already last year, the Middle Kingdom sold billions of tons of surplus LNG to the gas-starved EU. As the central hub of global logistics, China will play a crucial role in rebuilding supply chains after the disruptions caused by the pandemic, war, and sanctions - giving it additional leverage in international affairs. The crouching tiger is about to leap, and the hidden dragon will soon be revealed.

The author is a geopolitical analyst at the Center for Fundamental Rights (Alapjogokért Központ)