Template-Type: ReDIF-Paper 1.0
Author-Name: Afesorgbor, S.K.
Author-Name-Last: Afesorgbor
Author-Name-First: Sylvanus Kwaku
Author-Name: van Bergeijk, P.A.G.
Author-Name-Last: van Bergeijk
Author-Name-First: Peter
Author-Person: pbe494
Author-Name: Demena, B.A.
Author-Name-Last: Demena
Author-Name-First: Binyam
Title: Does COVID-19 threaten globalization?
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.
Length: 22
Creation-Date: 2021-05-31
File-URL: https://repub.eur.nl/pub/135563/wp683.pdf
File-Format: application/pdf
Series: RePEc:ems:euriss
Number: 683
Keywords: Covid-19, world trade, globalization, deglobalization
Handle: RePEc:ems:euriss:135563