Question

c) Discuss if the recent outbreak of the Covid-19 pandemic will mark the end of globalisation?

Answer 1

The COVID pandemic has actually caused many countries to reassess their supply chain whether they are too much dependent on one source and can it become a national security issue. The major issue with this is that many countries which are following the globalization concept, they are facing the issue of theft of intellectual property and economic dependence on another country which can be a difficult thing if there is situation of conflict. The major reason many people are pointing to this is towards the aggression shown by China in many regions where they are trying to dominate which have earlier been dominated by western world. This causes disturbances and China on its part is a major contributor of the global supply chain especially in the area of technology parts so if the conflict increases that can create disturbances for the other countries. China is huge economy and if certain countries raise some issue against them then they use the economic tools to suppress such action which many countries see as a major issue. Many countries blame China for the pandemic and this scenario if the conflict increases then the supply chain would be disrupted and because of this most countries are focusing on creating self-sufficiency, also called nationalism. The globalization has caused the global economy to increase in output and productivity but it has also contributed to inequality in income and some countries take the benefit of globalization but when it comes to opening their economy then they do not do the same so in many ways we can see that we are seeing decline in the acceptance of globalization.