China Gets Triple Hit by COVID-19

Shuquan He, Maria Elo, Xiaotian Zhang*, Julia Zhang

*Corresponding author for this work

Research output: Chapter in Book/Report/Conference proceedingBook chapterResearchpeer-review


This chapter argues that China has been triple hit by the COVID-19 pandemic as it has caused a major trade shock, an investment shock and a business environment shock. To date, the globalized economies are interconnected by international trade, which makes trade an important vehicle for international contagion. Globalization and economic shocks are underpinned by a variety of forces affecting economic and societal changes creating a domino effect in global production networks. The impact of the COVID-19 pandemic on China’s overseas investment is manifold. Chinese businesses are exposed to the changing international business environment as perceptions on China’s roles are shifting. The COVID-19 pandemic is changing the way business is conducted worldwide. As a result, Chinese companies are now confronted with a new international business environment that is moving away from globalization that had been creating opportunities for firms from emerging economies to grow their presence in global markets.
Original languageEnglish
Title of host publicationCOVID-19 and International Business : Change of Era
EditorsMarin Marinov, Svetla Marinova
Place of PublicationNew York
Publication date2021
ISBN (Print)978-0-367-62324-1
ISBN (Electronic)978-1-003-10892-4
Publication statusPublished - 2021

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