For globalization, Covid-19 appears to be a "bend but not break" crisis. Discuss how the world's globalization has been slowed by the isolationism imposed by the Covid-19 pandemic.
Answer: Globalization aspires to create a world without borders or a global community. It can be explained by the increased flow of commodities, people, capital, information, and energy across boundaries, which is typically facilitated by technological advancements.
On the negative side, globalisation has been criticised for creating global inequality, allowing for the quick spread of disease, and spreading international terrorism and cross-border organised crime. These factors are fueling anti-globalization and protectionism sentiments, which may intensify as the Covid-19 pandemic spreads.
Effect of Covid-19 on Globalization
- In its annual Economic and Social Survey, UNESCAP stated that the Covid-19 crisis is ....
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