How has the coronavirus pandemic affected globalization?

The new coronavirus pandemic has slowed, suspended, stopped, or even reversed the process of globalization in many areas. This is particularly true of global supply chains for essential items and medical supplies.

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The new corona virus of 2019 has forced people all over the world into isolation. Since globalization is the opposite of isolation, in commercial, political and personal terms, it is clear that the immediate effect of the pandemic has been to slow, suspend, stop, or even reverse the progress of globalization over many different areas.

One of the most striking instances in the case of commercial globalization has been the focus on supply chains. Governments and populations had often given comparatively little attention to the length and complexity of supply chains for essential items and medical supplies. Worldwide lockdowns and travel restrictions prevented these supply chains from function, leading to panic buying and empty supermarket shelves in some countries. Although the actual shortages did not generally last long, this may have a permanent effect on globalization, as governments demand that certain types of goods are produced within the country so that there will not be similar issues in the case of future pandemics. The difficulty has been exacerbated by the fact that this particular pandemic started in China where many of the world's consumer goods are produced.

While it is difficult to predict the future effects of the pandemic, it is clear that it has adversely affected globalization and will continue to do so in the short term. Airlines and freight transporters are already experiencing serious financial difficulties, which are likely to lead to closures and reduced capacity in the future.

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