Question

Do you think that the pandemic COVID 19 pushed world again towards anti-globalization??​

Answer 1

Answer:

As leaders wrestle to guide their organizations through the Covid-19 pandemic, decisions running the gamut from where to sell to how to manage supply chains hinge on expectations about the future of globalization. The pandemic has prompted a new wave of globalization obituaries, but the latest data and forecasts imply that leaders should plan for — and shape — a world where both globalization and anti-globalization pressures remain enduring features of the business environment.

The crisis and the necessary public health response are causing the largest and fastest decline in international flows in modern history. Current forecasts, while inevitably rough at this stage, call for a 13-32% decline in merchandise trade, a 30-40% reduction in foreign direct investment, and a 44-80% drop in international airline passengers in 2020[i]. These numbers imply a major rollback of globalization’s recent gains, but they do not signal a fundamental collapse of international market integration.

Answer 2

Yes right, COVID 19 did push the world towards anti-globalization.

COVID-19 will not mark the end of globalization anyway and globalization can be reversed. COVID-19 simply added momentum to the de-globalization trend.

Globalization evolved through 5 elements as below:

1. Cross-border flows of trade
2. Technology
3. Data
4. Ideas
5. Investment

The pandemic has added more concerns around the world due to which supply chains have gone too far. Many big countries are now thinking of trade dependence. The world economy is at a critical inflection point. The United States has already initiated a trade war with China. Heavy restrictions on trade have made some damage that could take decades to reverse.

Thus, even before the COVID-19 pandemic hit, several factors were reducing globalization.