No corner of the global economy will be unaffected by the coronavirus pandemic.

At the end of last year, it seemed like diplomatic relations between China and Czechia—formerly the Czech Republic—had hit rock bottom.

Shanghai suspended ties with Prague after the latter signed a sister city agreement with Taipei, the capital of Taiwan, which China still considers part of its territory. Then the two countries fell out over accusations that Huawei, the Chinese telecom giant, poses a security threat. Promised Chinese investments failed to materialize. And on Jan. 18, the Czech president announced he would skip a summit organized by China’s Xi Jinping. It was a crisis.

What a difference a few weeks make.