Geopolitics plays a role in the post-pandemic business world. Given the bad blood between the world’s two economic titans, the politics surrounding China and the U.S. has tremendous impact on global economic prospects.
The two economies alone are home to 76 of the world’s most valuable firms, according to the Economist Intelligence Unit. But US President Joe Biden’s continuation of Trump’s policy on the trade and tech feud with China doesn’t bode well for further innovation-driven development.
Easing international travel in the post-pandemic world will facilitate people exchange across the Pacific, bringing the two countries closer.
The economic downsides from COVID are being addressed, while more areas such as the service sector continue to open. In the end, economic recovery depends very much on the control of the pandemic and an even distribution of vaccines around the world in our era of globalization.