Because of recent tensions between the United States and China, I am afraid to see the outcome of a world where China becomes the first to develop an effective cure for the Coronavirus. In a world where China does win this struggle for power I see tensions between countries continuing to worsen until countries reach a capacity where they can no longer cooperate in a civil manner.
China is currently trying to assure other countries such as Bangladesh, India, and other countries reliant on them that their vaccine will prove to be the most effective of the countries, rendering them financially supportive of the country and stuck in a position where if they chose not to support the country they will end up without any vaccines and worse off because of it. It's like making a deal with the devil. If a Chinese vaccine proves most effective, they will be able to manipulate other countries who are at their mercy into doing their will.
I don't see any resolve of tension between the United States and China, especially if they have the most effective vaccine first. The two countries were already in a tough spot because of the great debate of tariffs. The United States decided to raise tariffs. Now, because of a failure to contain the virus to China resulted in their country's leader attempting to make up for their major mistake, but it gave President Trump the opportunity to inappropriately name the Coronavirus the "Chinavirus". These factors have given no reason for China to be supportive of the United States, other than their financial influence over us because of their ability to mass produce goods and ship them to us. With China already producing a major portion of personal protective and medical equipment needed to sustain ourselves during a pandemic, them having the most effective vaccine in addition to that could turn out to be deadly for other countries, especially the United States. With this power, they could become the forefront of decision-making in the world. Us having evidence that Chinese entities have illegally hacked the United States' databases for information on a COVID-19 vaccine gives me reason to believe that China will do anything in its power to be the best, especially if it meant stomping other countries.