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China is ready to break up a trade deal with the U.S.

China is ready to break up a trade deal with the U.S.

The conflict over Washington’s accusations of coronavirus could lead to the breakdown of the first part of the deal, Chinese media reported.

Chinese authorities are ready to abandon the trade deal with the U.S. because of Washington's accusations on the coronavirus. The Global Times writes about this with reference to officials close to making decisions.

The conflict between the two largest economies in the world became the main brake on growth in 2019. The parties began taking steps towards each other only by the end of the year, and in January agreed on the first part of a comprehensive agreement. However, in the last month, there were talks in the USA about the necessity to punish China for the coronavirus proliferation.

White House Counselor Peter Navarro earlier said that China would have to “pay the bills” for not taking timely measures to combat the disease.

Against the backdrop of such accusations in China, there is a growing desire to break the deal and continue the conflict, the publication writes. Before that, most officials were inclined to compromise, but recently, the idea of using force majeure to repudiate obligations has prevailed. Beijing believes it can take advantage of unprecedented problems in the U.S., as well as the approaching presidential election.

For example, Gao Lingyun, an expert at the Chinese Academy of Social Sciences, points out that China is now much better prepared to confront the US because it knows how to strike back the American economy.

As you know, the US is conducting a full-scale investigation into the origin and spread of COVID. According to one of the versions that appeared in the media, Washington does not rule out that the virus originates from a scientific laboratory in Wuhan.

At the same time, American intelligence reported that the virus “has no artificial origin and has not been genetically modified.

Trump previously noted that the version about the laboratory origin of the virus in Wuhan is not the only one.

China rejects the assumption that the Institute of Virology in Wuhan is the source of the COVID-19 pandemic.

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