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Is this the end of globalisation (as we know it)?

Summary:
From  Karim Errouaki and WEA Commentaries The health, economic, social and political crisis created by the COVID-19 pandemic will reconfigure the geopolitics of international relations and globalization. We are only at the beginning of this crisis, particularly on the economic and social fronts. Many sectors, such as tourism, transportation and entertainment, will only recover over a very long time; many jobs will be destroyed. In contrast, other sectors are insufficiently developed and cruelly lacking in production. Therefore, we must act now to give the economy a new direction and to harness new engines of development. French Economist Patrick Artus (2020) argued that the current pandemic and its consequences could precipitate a slowdown in ‘’Globalization’’ or even result in a

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from  Karim Errouaki and WEA Commentaries

The health, economic, social and political crisis created by the COVID-19 pandemic will reconfigure the geopolitics of international relations and globalization. We are only at the beginning of this crisis, particularly on the economic and social fronts. Many sectors, such as tourism, transportation and entertainment, will only recover over a very long time; many jobs will be destroyed. In contrast, other sectors are insufficiently developed and cruelly lacking in production. Therefore, we must act now to give the economy a new direction and to harness new engines of development.

French Economist Patrick Artus (2020) argued that the current pandemic and its consequences could precipitate a slowdown in ‘’Globalization’’ or even result in a process of ‘’Deglobalization’’. We can expect to see an acceleration in the structural changes that we have already been seeing in the process of globalization. Indeed, COVID-19 and the way of addressing it is slowing physical globalization down. At the same time, it is also promoting an important digital, online form of globalization.  read more

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