China, the country where the new deadly pneumonia-like virus was first recorded in December 2019, has stamped out the epidemic and is now cautiously reopening its economy.  At the same time, most countries around the world have to take lockdown measures, expecting the pandemic peak in a couple of weeks. COVID-19 has already inflicted heavy losses on the global economy. Meanwhile, Beijing is always eager to profit from the troubles of other countries. At present, China’s energy companies are grasping the opportunity to make long-term contracts for oil delivery under the most beneficial conditions for them. In fact, China is taking advantage of temporary weakness of its global rivals.   

“The reaction of the Chinese authorities has been more rapid and rigorous than during the 2003 SARS epidemic, with the more relevant comparison being with 2008, when China faced a succession of tests: the 8.0-measured earthquake in May, the Olympics in August and the global financial crisis in the autumn,” Larry Brainard, chairman of London-based TS Lombard, commented on China’s moves after the lockdown had been lifted. On the one hand, Beijing deserves a thumbs-up for its prompt and efficient counter-measures. On the other hand, apart from Communist ideas, the Chinese leadership practiced dubious governing principles such as fake statistics on the outbreak, strict censorship, law enforcement abuse etc. At the time of the worldwide economic crisis, Beijing wants to capitalize on the coronavirus chaos. Besides the cheap oil, China forges ahead with the One Belt One Road project. Nowadays, lots of participants endeavor to find reliable sources of revenue, so they are poised to agree on China’s terms. The ambitious infrastructure project perfectly serves China’s goal of the economic reign for centuries ahead.