LISBON, April 24 (Xinhua) -- The ongoing COVID-19 pandemic is leading not only to economic shocks but also political implications worldwide, a former Portuguese foreign minister has said.
In a recent interview with Xinhua, Antonio Martins da Cruz, the country's foreign minister from 2002 to 2003, said that the pandemic struck the world unexpectedly, because "nobody was prepared, including governments, health authorities, companies and media."
He predicted that the global public health crisis will have a great impact on the world economy, thus likely triggering an economic recession.
"If we take the six of the most affected countries (China, Japan, Italy, France, Germany and Britain) plus the United States, they represent 60 percent of world supply and demand," which means 60 percent of the world's gross domestic product, 65 percent of the world's manufacturing, and 41 percent of global manufacturing exports, he said.
"These countries are also global chain values and the current situation will represent a chain supply contagion all over the world," he noted.
He said that the collapse of stock markets and oil prices will increase the risks of credit market turmoil and a global recession.
In addition, he forecast that "most probably, the world would know in the near future new strategic balances and a redistribution of international power."
"After solidarity, we will see power competition, security challenges and the goal of maintaining or improving competitive strategic advantages. It happens always during and after a crisis," he told Xinhua.
The former Portuguese foreign minister said there is an emerging opportunity for a new design and a new perception within the international community.
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