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19 February 2020, 13:00

Expert: Coronavirus unlikely to become ‘black swan' of Chinese economy

MINSK, 19 February (BelTA) – The COVID-19 virus will not become “a black swan” for the Chinese economy. The statement was made by Anton Dudarenok, Candidate of Historical Sciences, an analyst with the Belarusian Institute of Strategic Research (BISR), during a regular meeting of the Expert Community project in BelTA's press center on 19 February.

Anton Dudarenok

Some experts have rushed to describe the COVID-19 situation as a black swan of the global economy – a situation, which development is hard to forecast and may have serious negative consequences. “You have to understand that it does not apply to China now. The situation is not ‘a black swan' for China. It has been figured out, China responds to it,” Anton Dudarenok noted. In his opinion, the situation remains “a black swan” for the world as a whole. “If countries manage to unite, somehow resolve the problem through collective efforts, it will stop being ‘a black swan' for the planet,” the analyst added.

Yulia Abukhovich

Senior Lecturer of the International Relations Department of the Public Administration Academy under the President of the Republic of Belarus Yulia Abukhovich is of the same opinion. “It is too early to make assumptions. Yes, the situation is absolutely unpredictable. The way out will depend on how the world community acts in this situation,” she said. According to Yulia Abukhovich, everything depends on whether the world will come to recognize that the coronavirus situation is a common problem that needs to be dealt with without panic.

As for China, the country's economy may suffer a bit this year due to the epidemic. However, the Chinese economy's growth will still exceed that of other countries. Additional drivers will become available, for instance, in the sphere of cutting-edge technologies and online education.

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