Does COVID-19 threaten globalization?

Sylvanus Kwaku Afesorgbor, Peter van Bergeijk, Binyam Afewerk Demena

Research output: Working paperAcademic

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Abstract

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.
Original languageEnglish
Place of PublicationThe Hague
PublisherInternational Institute of Social Studies (ISS)
Number of pages22
Publication statusPublished - May 2021

Publication series

SeriesISS working papers. General series
Number683

Research programs

  • ISS-DE

Series

  • ISS Working Paper-General Series

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