Georgia-China economic cooperation before and during Covid-19 pandemic (საქართველო-ჩინეთის ეკონომიკური თანამშრომლობა COVID-19-ის პანდემიამდე და პანდემიის პერიოდში)

Abstract

Covid-19 pandemic has changed the world. Initially seemed as healthcare challenge, new Coronavirus managed to change not only medical, but also economic, as well as almost all other aspects of our every day life (Balogu, 2020). Coronomics even cooled down the global economic interconnectedness which reached its historic heights in the 21st century (Papava, Charaia, 2020). Consequently, countries are struggling to attract foreign direct investment (FDI) and to expand trade (Barbate, 2020). Consequently, Supply chains have slowed, consumer spending is down, political reality vague, and most states have been unable to stave off recession. At the same time, global crises often open up new opportunities that can ultimately lead to progress and prosperity (Buheji, Ahmed, 2020). Under these circumstances, countries big and small are looking for strategic partnerships to overtake their competitors. This is why China, a rising superpower, and Georgia, a middle-income country, have been enhancing their economic relationship (Charaia, Papava, Wang, 2018). Currently, cooperation between Georgia and China is less than between Georgia and the West, but presents its own unique opportunities and challenges. China Georgia cooperation is positive not only for this two, but many other countries in the world, including S. Caucasus, Baltic and other EU member states (Charaia, Chochia, Lashkhi, 2018), as well as for other countries out from the given region. Despite the fact that Georgia - China cooperation could cause some challenges from Georgia’s western partners, it still tries to diversify its economic potential through cooperation with all possible economic partners, including not only China, but even occupier - Russian federation (Charaia, 2016), which could bring some level of stability in good case, but total disaster in case of negative scenario.