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Online Discussion: Has COVID-19 Killed Globalization?

Hosted by the Consul of the Milan Talks and Webinar Group
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Took place 1 month ago
Sat 13 Mar 18:00 - 19:00

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Online Discussion: Has COVID-19 Killed Globalization?

Even before the pandemic, globalization was in trouble. The open system of trade that had dominated the world economy for decades had been damaged by the financial crash and the Sino-American trade war. Now it is reeling from its third body-blow in a dozen years as lockdowns have sealed borders and disrupted commerce (see Briefing). The number of passengers at Heathrow has dropped by 97% year-on-year; Mexican car exports fell by 90% in April; 21% of transpacific container-sailings in May have been canceled. As economies reopen, the activity will recover, but don’t expect a quick return to a carefree world of unfettered movement and free trade. The pandemic will politicize travel and migration and entrench a bias towards self-reliance. This inward-looking lurch will enfeeble the recovery, leave the economy vulnerable, and spread geopolitical instability