China-US Relationship Hinges On Changing Internal, External Forces
'Dual Circulation' To Focus on Domestic Market
Given the ongoing election challenges in the US, China has yet to officially congratulate Joe Biden as the next US president, although many world leaders are already hailing a reset in US foreign policy. Many are wondering if this and other moves indicate a quiet internal shift for China's high tech and life sciences sectors, just days after Beijing concluded a high-level plenary meeting outlining its priorities for the next five years.
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Pfizer is unlikely to tie up with Indian companies soon for manufacture of its COVID-19 vaccine as it has built capacity for the first phase. However, as discussions to supply to the COVAX facility and developing countries progress, it could evaluate such opportunities later.
Only three of 40 qualified international drug firms won in the latest round of China's central bidding process, showing a toughening environment. But some companies are seemingly determined not to lower prices any further.
Despite administering a total of 2.2 billion COVID-19 shots, China as the first country to experience the coronavirus outbreak has yet to open its borders, while more effective mRNA vaccines are still nowhere to be found amid apparent delays for the licensed-in lead candidate.