Impact of COVID-19 on globalisation

COVID-19 is currently changing our understanding of the world around us. It has challenged many of our ideologies: from capitalism to neo-liberalism, from the over-significance of work to realising work-life balance, and from globalization to nationalisation.

In this post, the authors argue that COVID-19 pandemic is an inevitable result of globalisation and that the pandemic, in turn, has seriously threatened the world’s globalisation. The pandemic had disrupted the international legal order: legally, socially, politically, and economically. Nonetheless, we contend that the pandemic’s adverse effects on globalization is temporary, and that it would provoke more international cooperation among nations on the long run. In order to demonstrate the argument, the authors lay down the social, political, legal, and economic effects of the pandemic on globalisation.

Read the paper here

Sponsored Content

Leave a Comment

Europe’s response to COVID-19

Europe’s response to COVID-19

European real GDP is now projected to contract by 7 per cent in 2020, its biggest decline since World War II, followed by a rebound of 4.7 per cent in 2021. But the recovery’s strength will depend crucially on the course of the pandemic, people’s behavior, and the degree of continued economic policy support. 

Sort content by

Regulatory implications for banking

This note provides the IMF and the World Bank staff’s high-level recommendations and guidance on the appropriate regulatory and supervisory responses for the banking sector and offers an overview of measures taken across jurisdictions to date.

COVID-19 pushes millions into poverty

COVID-19 is taking its toll on the world, causing deaths, illnesses and economic despair. But how is the deadly virus impacting global poverty? The World Bank argues that it is pushing about 40-60 million people into extreme poverty, with its best estimate being 49 million.

Real estate leaders must act now

To respond to the current and urgent threat of COVID-19, and to lay the groundwork to deal with what may be permanent changes for the industry after the crisis, real estate leaders must take action now.

Global policy tracker

The HBS Global Policy Tracker is an initiative to collect and standardise economic policies implemented around the world as a response to the COVID-19 pandemic. It focuses on fiscal policy, monetary policy, and lockdowns. The data is updated in real-time with the efforts of several dozen students and staff at Harvard Business School and other Harvard Schools.

Post-lockdown economic recovery in China

This report looks at official, and non-official data, to assess the post-lockdown economic recovery in China.

The macroeconomics of epidemics

This research studies the interaction between economic decisions and epidemics. The model implies that people’s decision to cut back on consumption and work reduces the severity of the epidemic, as measured by total deaths. These decisions exacerbate the size of the recession caused by the epidemic.