The old model delivered extraordinary benefits to humanity, but it also created winners and losers. The coronavirus pandemic is a reminder that we must look to the needs of the losers.

Underdeveloped nations with limited resources should be embraced as part of the world community. They are a relatively small but key element in the restoration of the global economy.

The economic a political similarities to the Great Depression are alarming. The only way to avert a more serious crisis, China believes, is for nations to act with benevolence, mutual respect and good faith.

The coronavirus pandemic has gifted the world with a blank slate with which we can reconstruct its economy. Now is our chance to transition into a social and environmental consciousness-driven economy that will ease post-COVID disasters.

COVID-19’s exponential growth has already offered the public a crash course in numeracy. It is also proving to be a crash test for systemic risk. While it is too soon for the final verdict, it is already clear that the US – not just its current leadership – will need a significant overhaul.

The economic impact of COVID-19 cannot be understated. The longer the pandemic lasts, the worse our chances for quick recovery.

It appears to be inevitable that global industrial and supply chains will be realigned as a consequence of the coronavirus pandemic. But the reshuffling had already begun.

The COVID-19 pandemic has sent the world into perilous, uncharted territory from which no country will emerge unscathed. Over half of the global population is under some form of lockdown. All economies, rich and poor, are falling into recession and can limit the fallout only by working together.

In this time of economic instability, we can look to the past to understand how we got here, and what might come next for the shifting global economy. China and the U.S. are key players in shaping what comes next.

China and the United States managed to forge a complementary relationship since 1979, despite their disagreement about the best model of government. They need to return to the pragmatism of the past.