The Real PayoffFrom China's Covid Vaccines

Its drugmakers hope exports of coronavirus shots will lead to sales of inoculations for other diseases

The pandemic made China the world’s top exporter of Covid-19 vaccines, mostly to nations that haven’t been able to afford or procure more effective ones from the U.S. and Europe. Now the country is using that newfound leverage to make an aggressive overseas push for its vaccines against other diseases such as Japanese encephalitis and pneumonia, competing with giants including Pfizer Inc. and Merck & Co.

Studies have found the Chinese Covid shots to be less effective than some Western ones, such as the mRNA vaccines from Pfizer and Moderna Inc., and there have been repeated questions about the transparency and data standards of its vaccine makers. Even so, developing nations that have had little access to other coronavirus vaccines are poised to grow more dependent on Chinese companies for shots against other ailments.

The expansion marks a dramatic ascent for China’s pharmaceutical industry and could give poor nations cheaper access to life-saving shots. It will also help President Xi Jinping’s administration wield more soft power globally. Serbian President Aleksandar Vucic has already said Xi may get a statue in the capital of Belgrade for supplying the country with more than 4 million doses of Covid vaccines, supporting local businesses such as the steel industry, and providing geopolitical backing.