In the period after WWII, the world became comfortable with the two poles of the United States leading the free world and the Soviets leading the collectivist world. After the fall of the Soviet Union, the world quickly adjusted to US leadership. For the past 30 years, globalization and the world economy has banked on US leadership. However, in this global crisis of Covid-19, the US has been absent thanks to President Trump and China is taking this opportunity to fill the gap.
China Ascendant: The New Global Leader
China is stretching its wings to become a global leader in the absence of US leadership during the pandemic.