Covid-19 and World Trade: In the Eye of the Perfect Storm?

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Abstract

The collapse of world trade in 2020 due to lockdowns in response to the COVID-19 pandemic has fuelled a rethinking of globalization, with policies being reoriented towards strategic autonomy and local production by means of near-shoring and in-sourcing. Comparing the impact of the COVID-19 trade shock to the Great Depression, this article focusing on resilience and recovery argues that international value chains and the global trading system have helped to weather the impact of the global unprecedented response to a health shock.
Original languageEnglish
Pages (from-to)39-53
JournalTrade, Law and Development
Volume14
Issue number1
Publication statusPublished - 2 Oct 2022

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