Question

Elucidate how covid-19 pandemic will impact on Globalization?​

Answer 1

Answer:

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Explanation:

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.The volume of global goods exports in 2020 could fall to a level last seen in the mid-to-late 2000s, according to the latest WTO forecast. That would be a tremendously painful drop, especially in the context of today’s larger and more complex world economy. But even the most pessimistic trade forecasts do not imply a retreat to a world of disconnected national markets. Most of the run-up in trade integration since the end of World War II should remain intact.

If plummeting trade flows are unlikely to undo globalization, what about the even steeper decline predicted in foreign direct investment (FDI)? Like other capital flows, FDI tends to be volatile, so a double-digit decline is not as shocking as one might presume. FDI flows, for example, fell 38% during the global financial crisis. Nor do shrinking FDI flows necessarily augur a real retreat from corporate globalization. The foreign business activity of multinational firms does not always closely track FDI trends.

The collapse of international travel, in contrast, stands out against a much steadier growth trend, and its damage is indisputable. Tourism contributes more to global output than automotive manufacturing, and business travel facilitates international trade and investment. As of late April 2020, every country had imposed restrictions on international travel, and 45% of countries had partially or completely closed their borders to foreign visitors. Airlines were flying 90% fewer seats on international flights, as compared to 62% on domestic flights. This unprecedented collapse does, however, follow an international travel boom. Even if international airline passengers fall by two-thirds, there would still be more people flying abroad than there were in 2003.

Answer 2

Pandemics are not only sickness & death tragedies. The omnipotence and incertitude and fear which accompany such mass threats result in new behaviours and convictions. People are both more suspicious and more faithful. Most importantly, they are less ready to involve in anything that is strange or alien.

Explanation:

• None is aware how long the epidemic COVID-19 is going to be. If by spring in the northern hemisphere the pandemic does not make it less contagious, people globally will have to wait till a vaccine develops and rolls out. Another important variable is the efficiency of public health authorities, that in several nations are considerably less proficient than in other developed nations.
• Considering the nature, to the large extend, and to whatever we can expect when that is done, of our highly interdependent international economy, we want to look at our newly-defined "isolationist tactics" for combating COVID-19. As the world economy contracts &the world opts for protectionist policies, emerging and developing economies relying on export-driven growth will now have a severe effect.
• In any case, the closures of the factory and the suspension of production already disturb "global supply chains". Producers take steps towards reducing their long-term exposure. Financial commentators have concentrated so far, at least, on calculating costs in specific sectors: automakers concerned about parts shortages; fabric-deprived textile manufacturers; customer-hungry luxury retailers; and the tourism sector, which has made cruise ships in particular hotbeds of infectious disease.
• Covid 19 's crisis has disastrous consequences on companies & organizations that have profited from "cross-border supply chain" economic inter-dependency. China is the largest manufacturing base in the globe & the center of several supply chains. So several companies that came to depend on China have been badly affected since the  coronavirus outbreak .
• From the point of view of risk analyses, at least we can see a quick trend to move home facilities from widely spread  production bases. Nations will reconfigure their economies in order to look more clearly at import substitution, since the risks & pitfalls of excessive dependency on foreign supplies will become apparent. Calls for the - renationalization of production will almost certainly be made, in specific for what is deemed to be crucial or vital products.
• The risks of infectious diseases will need to be weighed by national govt  against the advantages of easy travel or stronger safeguards. In the short term, even after the crisis is over, the globe's tourism industry is impacted. In addition , financial mobilization will also be impacted indirectly as fewer migrations and "business travel & investment" incentives at home impede transnational capital flows

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