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Does COVID-19 threaten globalization?

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  • Afesorgbor, S.K.
  • van Bergeijk, P.A.G.
  • Demena, B.A.

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.

Suggested Citation

  • Afesorgbor, S.K. & van Bergeijk, P.A.G. & Demena, B.A., 2021. "Does COVID-19 threaten globalization?," ISS Working Papers - General Series 683, International Institute of Social Studies of Erasmus University Rotterdam (ISS), The Hague.
    • Handle: RePEc:ems:euriss:135563
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    References listed on IDEAS

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    Keywords

    Covid-19; world trade; globalization; deglobalization;
    All these keywords.

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