Can 'Globalization' Survive Even After COVID-19?

[Asia Economy Reporter Naju-seok] How will the world change after the novel coronavirus infection (COVID-19)? There is growing speculation that the globalized world is ending and the role of individual nation-states will become greater. This is because borders are being closed to prevent the spread of COVID-19, and trade restrictions are being imposed for health and other reasons.

[Image source=Reuters Yonhap News]

On the 18th (local time), The Wall Street Journal (WSJ) introduced experts' opinions on the post-COVID-19 world in an article titled "A World with Higher Border Thresholds."

WSJ’s international correspondent Yaroslav Trofimov said, "The shock of COVID-19 is increasing the role of the state," and introduced that "citizens are facing a situation that demands a form of control they have mostly never experienced in their lives." Not only citizens' lives but also countries are blocking each other's borders. Due to lockdowns, border closures, and import-export regulations in various countries, the global trade network has also been hit, putting supply chains and other systems in a precarious situation.

Professor Albrecht Ritschl of the London School of Economics said, "Almost all countries' borders have been closed," adding, "I never thought I would see such a sight in my lifetime." Even allies such as Europe and the United States, and countries within Europe, are fiercely competing to secure medical equipment. In the case of the European Union (EU), differing opinions among member states have led to a lack of systematic response not only in crisis management but also in how to lift lockdown measures. Export restrictions and protectionist measures regarding strategic goods are also being implemented one after another.

The status of international organizations has also fallen to the bottom. The World Health Organization (WHO) has been criticized for leaning toward China during the COVID-19 response process and for delays in various follow-up measures.

Some point out that protectionism and nationalism, which had already begun before COVID-19, have accelerated through a series of situations. The series of movements confirmed in the US-China trade war are spreading further due to COVID-19.

However, there are also those who foresee an opposite trend. Former Italian Prime Minister Mario Monti said, "Although citizens today are confined to their homes and countries, making it seem like a trend of deglobalization, the need for joint response and cooperation has grown even more than before," and argued, "Due to the nature of the pandemic, the fight against this virus is only possible through strong international cooperation."

Evo Dalder, chairman of the Chicago Council on Global Affairs, said, "We are already living in a globalized world," and added, "If we recognize reality, the need to find an efficient path for cooperation will increase."

This content was produced with the assistance of AI translation services.