Saturday, October 3, 2020

 

Will COVID kill globalization? 


The process is just starting, and although the flow of information is largely free outside of China, movements of people, goods, and capital are not. Consider people first. The Trump administration is opposing legal immigration further, arguing that jobs should go to citizens rather than foreigners. Other countries will likely do the same. Travel is restricted, limiting the opportunity to tour factories, inspect production, and request orders. About 90% of people live in countries with closed borders. Many governments will open up only to countries with similar health protocols: one such "travel bubble" includes Australia and New Zealand, along with Taiwan and Singapore. The airline industry is signaling that the disruption of travel will last for some years. Airbus has reduced its production by a third and Emirates, which symbolizes globalization, anticipates no complete recovery until 2022. ( The Economist, Para. 5 )


https://www.youtube.com/watch?v=KJhlo6DtJIk

https://www.economist.com/leaders/2020/05/14/has-covid-19-killed-globalisation

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