The Impact of Coronavirus on China's Economy, Politics, and the U.S.-China Relationship

NEW YORK, March 19, 2020 - Asia Society Policy Institute President Kevin Rudd kicks off the “Coronavirus, Asia, and the World” web-only series with a presentation about the virus’s economic and political impact on China as well as the ramifications for U.S.-China relations. Asia Society Executive Vice President Tom Nagorski moderated the discussion. (1 hr., 1 min.)
This program is part of ASPI's online coverage of the coronavirus, Asia, and the world. Learn more: asiasociety.or...
Subscribe for more videos like this: AsiaSociety.org...
---
We’re in this together with you. Be #InThisTogether with us. Support Asia Society today: AsiaSociety.org...
---
Facebook: / asiasociety
Instagram: / asiasociety
Twitter: / asiasociety

[@jamesnielsen3095]

I have been observing the pseudos for decades. Unfortunately, they cannot be shamed. I am a Roman Catholic, Mr Rudd, like the current Pope, is a sophisticated sycophant who needs personal recognition. He is ambitious, seeking gratification.

[@clout1078]

He's very soft because he want to save face, why? He invested himselves in China. China changed now and he can't admit it to outside watchers. Sad time for this world.

[@odonata9838]

Best webcast on this topic so far. Many thanks! I wish I watched this 4 days ago.

[@jonathonyoung3117]

Seriously democracy is dying, the political awareness in the wide populations of most western countries are insufficient to enable a proper functioning democracy. For instance in Australia we've recently had the cashban introduced which is a massive restriction on people to freely use their money. Yet most people aren't even aware of this or have not become politically activated to actually contact their local member, yet they will happily harp on all day about freedom of speech and democracy like they believe in it. When you don't participate in a democracy, it doesn't work! Most people don't realise this. Australian politics now, labour or liberal, they are basically flipsides of the same coin, it's frustrating. Personally, I'm done being an Australian and currently getting my Chinese citizenship reinstated. The future will cast a long shadow over Australia and my guess this will be the case for most of the western world.

[@ohwell2790]

John Yang: Good luck with your citizenship to go back home. Not much difference between the two anyway. Good luck

[@vkowluri]

Kevin's soft leaning to China is well known around the world.

[@markteague8889]

Perhaps his finances would reveal that he has benefited from some portion of the mass production that has been moved to China.

[@杜哥-q8z]

People from all over the world should work together to get through the difficulties as soon as possible.

[@Adrian101882]

・アルパカ together, but ...from a distance

[@user-tr2is1oo1i]

true

[@crand20033]

If someone in your family has COVID 19 they need to be quarantined somewhere in a remote facility from your house.

[@georgegeorgio1751]

@Qi Jia Obama or any Democrat would be no different.

[@soniamyers3885]

except for CHINA

[@barryjulianwaldron3656]

Albert Einstein who had a very advanced mind stated “ I never arrived at any of my conclusions from the process of logical thinking.

[@rextang8502]

Kevin Rudd is a gentleman and a scholar...Much too nice of a guy to be an Australian prime minster.

[@Bob.1973]

Lol

[@quietkiwi7572]

I'm super pumped to see your rooms.

[@victoews6842]

Interesting presentation, probably would be more believable if Kevin didn't take every opportunity to cast suspicion on Chinese statistics. Or if he would at least indicate that Chinese statistics are almost as politicized as the statistics or lack thereof coming from the USA.

[@caoty]

It is quite amusing for anyone whose brain functions normally to see one the one hand he presented his economic forecast of China's economy(very bad, bad and rebound) on the basis of, at least partially, Chinese official statistics for Jan. and Feb. and cast doubts on Chinese numbers on several occasions (He did mention that the trend of Chinese numbers is reliable). Believe me, he is definitely the better ones, I have seen even worse performance from westerners！

[@GK-ui8fv]

Many statistics in US are gathered by private cos or state establishments, so more cross checking from multiple sources can establish accuracy. China 's accuracy depends on their data being accepted by WHO, IMF, UN etc. I am pretty sure when one day CCP goes out of business, they will find parallel data records for their own policy making. China is not stupid. One set of data is for foreigners and it's own public and another for setting real policy direction. US would not be able to cook books to that degree as less centralised control on data gathering and presentation is there. So China and USA can never be equal in data manipulation.

[@michellerainwaters9646]

There was never a public show of grieving with ceremony a final goodbye to mom, dad, grandma & grandpa, just the feeling the loss for money. Although they show Genuine concern for the loss of economy!

[@colenefrood5002]

Kevin Rudd, is a fiscal lunatic, he completely screwed Australia in 2008. The first thing he did in January 2008 was to give every Australian $900.00 followed by another $900.00 12 months later. Rudd campaigned on a $4.2 billion national broadband, which became a $43 billion project before the first shovell went into the ground.

[@user-kq9fj9dx1j]

President Xi concept of “building a community of common destiny for mankind,” is the best wisdom any world leader had ever propose. We share the same sky, breath the same air and drink the same water and we are all one kind called the Humankind with only one race known as the Human race. Love from us the citizen of the earth.

[@amsetiawan7230]

👍👍👍

[@xijingpooh5879]

Winnie the pooh is a dictator.

[@jamesnielsen3095]

How about HUMAN RIGHTS, HUMAN DIGNITY, and the criminal methods of the CCP???

[@captainchokdee1039]

Why are you interviewing the redundant?

[@antpoo]

Captain Chokdee redundant? Kevin is one of the highest Authorities on China from a Western perspective.

[@junkscience6397]

He also lost his job as Prime Minister, Clowney. "One of the highest authorities"? What a joke. Too bad you have ZERO sense of humour, eh, Clowney?

[@maximahoro8970]

Excellent, and informative, episode. Thank you for sharing very crucial perspectives. Hope to expect periodic updates in the future. Regards

[@xijingpooh5879]

Kevin China Rudd.

[@OzBloke]

Hope it’s huge and much huger than anywhere else!

[@bigred8438]

I am prepared to hold out my hand of solidarity to others, but only with a glove on it.

[@donnysuprapto3987]

Indonesia is a corona virus emergency, the economy is paralyzed resulting in a stronger dollar, many investors are withdrawing their investment, I don't know how long this virus can be overcome, government policies that do not lockdown citizens, make the virus easily spread, and the bureaucratic system complicated makes this virus more difficult to overcome in Indonesia. If the dollar is stronger against the rupiah, it is certain that there will be turmoil in the country (monetary crisis), because the amount of debt the government will add to the burden of debt repayment and this will make Indonesia even worse.

[@ohwell2790]

Every country is in the same boat so there you are.

[@barryjulianwaldron3656]

From the day after the disaster it’s going to take the world economy at least 10 years to recover.

[@barryjulianwaldron3656]

During the next 10 years there is going to be lots of changes and lots of rearrangements in the world economy to the extent the peoples of the world will be living in a different type of economy and definitely unlike the one we all live in today.

[@scariavarghese4136]

Former Australian Prime minister Kevin Rudd’s soft spot on China is well known. He speaks Chinese language Mandarin ad my memory is correct Rudd’s daughter is married to a Chinese man. He often acts as supplicant. America was engaged in regime changes the world over, the last one was in Iraq in 2003, prior to that America had the perfect opportunity to get rid of the Chinese totalitarian regime in 1989 following the Tiananmen massacre and the Chinese student were agitating for democracy. Foolhardy America and the western nations were investing heavily in China without insisting on democracy in China and let the Chinese totalitarian regime off the hook. Large scale investment helped the Chinese totalitarian regime to create jobs for the agitating students and won them over. Now Chian is the 2nd largest economy with military threatening her neighbours and claiming the South China Sea is her fiefdom and restricting free movement of ships carrying cargoes. In my opinion the Corona Virus is a biological weapon to destroy large number of people in the world and the economy of the world as well. Some of Chinese citizenry will die and it doesn’t matter to them and world domination is the Chinese totalitarian regime’s ultimate motive. When this pandemic is over, America and the west in their endeavour to destroy the communist Chinese totalitarian once and for all. It won’t be easy and democratic China abide by the ruled and regulations as an international citizen is preferable than rouge totalitarian regime. Unchallenged the totalitarian regime will be a threat to the rest of the world.

[@westondiggs4324]

“TALK TALK TALK” Kevin Rudd doesn’t have to remind us to pull together. Is he President of the United States? Blah, Blah, Blah... “FATHER COUGHLIN” Perhaps you should create a podcast to preach to people of what they need to do and how they need to behave during the crisis.

[@dnickaroo3574]

Rudd notes that Trump's Administration denied that Coronavirus was even a problem (like they do with Climate Change). The US has made the pandemic worse by its lack of response, and policy of misinformation. The virus has triggered a US financial crisis, a recurrence of the 2008 GFC which was never solved. The US Fed is printing $One Trillion daily in a desperate attempt to bail out US Banks and Corporations (again!!). The Debt involved is 20+ times more this time. The US Govt policy on Coronavirus is to allow "herd immunity" to rise by letting the virus run its course.

[@markgilchrist860]

@@dnickaroo3574 The US Govt has a policy ?

[@nayanmdesai]

CHINA OWNS AUSTRALIANS. WAIT TILL BABIES START LOOKING CHINESE.

[@aixiangding4240]

I hope everyone stays safe and healty

[@albacan]

27 minutes in and I haven’t heard anything new that the man on the streets in China doesn’t already know

[@Harthorn]

As Chinese I agree with you. It's just surface level talk.

[@mikefields8693]

This guy is pro China propagandist

[@andyxia3346]

Mike Fields So China must be evil right ? Did you believe your eyes or your media? Come and see it.

[@PseudoProphet]

Chinese economy can't do good when the rest of the world for whom China produces everything is in a recession... Also China can't use the same methods of infrastructure building to avoid economic hardship that they did in 2008 because they've already build up everything that they can in China and most of it is practically empty and non-performing. If they try to build outside of China they should be sure that they will not see any of that money back as has been the case with most of their projects, but they can still get some good assets in those countries. So basically economic hardship is unavoidable.

[@yl7806]

Amazing how he speaks perfect Chinese and worked decades in CHINA, yet has such a superficial read on China and Chinese society.

[@Harthorn]

He is talking for benefit of his guanxi in China. There is money to be made.

[@rebeccachan3405]

Most westerners are like that. They choose the China haters for China postings. Some hide it better than others but that is how the imperialists choose them.

[@geemongo6217]

What will be the impact on belt and road and related loans to developing countries?

[@Bob.1973]

Nothing I guess...maybe for a while

[@carbonfibercrypto2919]

skip to 6:00 if you want to miss the pathetic virtue-signaling.

[@junkscience6397]

Kevin Rudd has a Doctorate in Chinese Appeasement, don't you know...

[@maximahoro8970]

A VERY authoritative AND comprehensive presentation, in nontechnical language, which should serve any serious discussion on the subject. Regards

[@rodneyplewright7685]

Kevin Rudd was a great Australian Prime Minister. Two of his many outstanding achievements were bringing broadband internet to Australia and saving the Australian Economy from being wrecked by the global financial crisis of 2008.

[@harryvandenberg7894]

too right

[@jongeism]

Thank you Tom and Kevin for a very informative video highlighting the lack of world leadership by two of the wealthiest countries in this world our cities with lots off people doing it tough no work no money inefficient healthcare no lessons learned from the 1919 world healthscare virus H1N1

[@mengliu4239]

Kevin's views are balanced and insightful, rare qualities among so-called China observers and commentators. Thanks Kevin'

[@Chrmngblly]

Kevin Rudd wants to revise history.

[@albacan]

And ditto from 27 minutes and on. I could critique but won’t waste my time

[@elena16350]

Surprise, surprise. Kevin as long winded as he always has been, but at least as yet he hasn’t slandered China. Information you cretin, I’m off to sleep now.

[@richarddaniel2416]

Bla Bla Bla From from uncle Kevvie, who the hell would ever listen to him

[@sungjohnny3640]

you just did

[@nelsonterk]

Thanks my thoughts are the same

[@rickcouture2156]

look up Laogai products from China, and know you could have the products of slavery (force labor from concentration camps). or these camps give support services to front companies for export. do you have the products of slavery in your home???? are you sure???

[@peizhuangmiao1867]

It's not about democracy or authority. It's liberalism and collectivism that make the difference between Europe and east Asia. There is contradiction between collective interest and individual interest in this covid-19 crisis. Europe chose Individualism and east Asia chose collecttive. This will be the latest example of the failure of Liberalism in Europe and America.

[@robertrathswohl9983]

Never allow your schooling to get in the way of your education. Mark Twain :// so many ignorant people below:

[@saggionline8821]

Very useful info. Big thanks to mr. Rudd for his input and wisdom, not to mention years of experience and expertise.

[@honvui]

Mr.Rudd has more knowledge and experience of China and Asia than many current politicians. It is a great pity and loss to the world that he is not the Prime Minister of his Country. Still, he is contributing his ideas to the world. My due respect to him.

[@barryjulianwaldron3656]

In an estranged kind of way when such events like what’s happening in the world at the moment; reality throws up new dimensions for mankind to see and confront.

[@barryjulianwaldron3656]

Thank you Mr. Kevin Rudd; former Prime Minister of Australia. Mr. Rudd in essence you have stated in the above interview the following. Economically the first quarter will be a bad report. The second quarter report will be mainly be about recession. The third economic report will be rebound. The fourth economic report will be about stabilisation. Mr. Rudd. I’m sorry with respect to you when I say you the perfect example of a logical thinker!

[@miket8029]

If it was zero or negative for year 2020 of China, what does it means to the Gobal?

[@theories1972]

Trade is only contributing about 10%, and he said 40 something, he was in China before but not any more. There is a gap between his pictures of China and the real China today.

[@justscrolling9779]

Thanks for correcting him about 'Queens' [lol] KR...really enjoining this conversation/interview... refreshing.

[@josephzirk6523]

difficult but manageable!

[@yliang1688]

Kevin Rudd is A respectable statesmen for many, including me.

[@woodensurfer]

There should be more concern for the economies of the West. China would suffer mostly because the West suffers more. Most people should not relish China suffering.

[@thomastroxel2267]

In USA we have documented "Jobs", so Unimployment can be calculated. Film footage of outdoor Chinese markets, etc does make me wonder what they even call "Employment"? Is it really very regulated? Or "Calculated"? February's Chinese Unimployment figures of 5.7% ??? What? They have more than that...with the country running normally. And now in "Lockdown"? With closed businesses, colleges, and schools? Under 6% "Unimployment"? Did I hear him wrong? I really can't imagine anyone believing Chinese Statistics, no matter what the subject. I see no reason for them to be honest.

[@sandralorenz630]

Kevin RuDD talks on China? Seriously hahahah. Please

[@hoavearn9937]

A lot of countries in Asia or Asian are eating amost the same thing and the same animals. Why only happen in China? Thank you

[@richarddaniel2416]

The view from on the ground in Shanghai is nothing like that, however we are back to work

[@AnthonyTolhurst-dw1nc]

Bounce back in third quarter may well have been expected before the never before negative interest rate dilemma hit the world economy. NOBODY KNOWS HOW to deal with THAT, let alone covid 19 currently an epidemic; NOT PANDEMIC yet.

[@mohinigunesekera4730]

what des all this mean to the real estate market in sydney?

[@AnthonyTolhurst-dw1nc]

Ha ha ha. The banksters that love high prices are going to handle barrows full of non performing mortgages. Serve them right

[@olliemolly6411]

it's data not DUH-TAH. Other than that, thank you for the informative talk.

[@stevebyers9672]

Just dont buy anything chinese again ever-rather pay 20% more as long as not chinese-bring back manufacturing to individual countries & use thsi as a chnce to decouple from chinese reliance

[@kamhong7441]

America looking after no one …….. America first .

[@danielclint1033]

This video appears to be censored

[@MyKarur]

Excellent way to stay relevant with a video conference connection to the speakers

[@alloomis1635]

kevin was out of step with his colleagues, due to his intelligence and education, but none the less smart and connected on asian affairs. worth listening to.

[@sgjner]

Great talk by Kevin! Thank you!

[@0XThothX0]

TY ruddy boy an Tom Nagorski for this very information Ty.

[@Lou31510]

When I hear an English accent I already know it will NOT speak well of the U.S.A....NOW WHY IS THAT?!

[@lachlanguerrieri9382]

He was the australian prime minister in 2007-2010. there was no english accents dude

[@junkscience6397]

Because you're not hearing an English accent. He's from Australia!

[@haoruchen4216]

thank u for the insights. kevin. consumer confidence can be resumed by unified government actions with clear focus. contactless economy will be established worldwide and form a new system. old habits simply will have to give away to the making of new world. we should be optimistic as you always are.

[@monwarhossain9634]

wonder why he always been wrong?

[@tiffsaver]

"Shelter in Place," "QUARANTINING" by any other name.

[@dragonmcea]

Kevin you saved us during the GFC.... wish you where PM!

[@antpoo]

dragonmcea no he didn’t, Chinese stimulus saved us. Their stimulated demands for our resources saved us.

[@yewhocktan5112]

Kelvin, thanks for your sharing.

[@solopopa14342]

You are doing Great work sir. Respect from India

[@homayounshirazi9550]

The work of IMF as a money lender is to weaken the poor countries who suffer most in any economic downturn. This kevin Rudd is the purveyor of hardship and permanent economic ruin to the third world countries. No one should ever thank people like him, the money lenders!

[@homayounshirazi9550]

It doesn't cease to amaze me the extent to which western speakers catastrophize Chinese economy while at the same time minimizing the effect of market downturn in western markets. By the time Covid-19 effect on world economy is re-visited in one year's time, China's economy will still remain in the positive range and all western markets will hover in the -1 to -2 range of recession. Look what position this Australian held! Head of IMF; the money lenders of the West living off the misery of the unfortunate third world countries who would be forever stuck in debt to the west.

[@eddybulich3309]

He was hated in Australia by a good number of people. He is the perfect example of why politicians are hated today. He has no expertise in anything - he was a diplomat. He has no real world skills, all he has is a massive ego. He is a narcissist. I would rather a sheep herder lead our country than Rudd