TY - UNPB
T1 - Does COVID-19 threaten globalization?
AU - Afesorgbor, Sylvanus Kwaku
AU - van Bergeijk, Peter
AU - Demena, Binyam Afewerk
PY - 2021/5
Y1 - 2021/5
N2 - We analyse the impact of COVID-19 on the world economic system through the three components of globalization: economic, social and political globalization, respectively. The pandemic and the economic policy response have hit these aspects to different degrees.
• Economically, the quick recovery of world merchandise trade stands out.
• Socially, the reduction in tourism is the largest shock but here a sharp recovery is possible.
• Politically, the end of US membership of the WHO and the difficulty of global economic coordination in the G20 are key drivers for 2020. The election of a new US President allows for a quick reversal.
AB - We analyse the impact of COVID-19 on the world economic system through the three components of globalization: economic, social and political globalization, respectively. The pandemic and the economic policy response have hit these aspects to different degrees.
• Economically, the quick recovery of world merchandise trade stands out.
• Socially, the reduction in tourism is the largest shock but here a sharp recovery is possible.
• Politically, the end of US membership of the WHO and the difficulty of global economic coordination in the G20 are key drivers for 2020. The election of a new US President allows for a quick reversal.
M3 - Working paper
T3 - ISS working papers. General series
BT - Does COVID-19 threaten globalization?
PB - International Institute of Social Studies (ISS)
CY - The Hague
ER -