Question

a) Has globalization ended with the coronavirus (Kovid-19) pandemic? How will this coronavirus outbreak crisis affect the international financial system?

Please explain minimum 3 pages

Answer 1

Coronavirus has affected the globalisation to a very large extent because there has been complete lockdown among domestic and international industry and there are no movements of goods among various countries due to the fear of spread of contagion through coronavirus.

globalisation has temporally been halted due to progression of the Corona virus among the globe because this has led to a sense of scepticism among various persons and they are refraining from doing any kind of physical interactions so so this is a new way of life in which there has been complete isolation of countries from one another and globalisation has been completely stopped.

There has been another factor to it in the form of various countries which are not trustworthy of it another are trying to accuse another of spreading this virus, and they have already also charged tariffs against once and others goods, so they are the most developed countries of the world also so it can be said that after the pandemic is over, there would be a new mechanism for global trade which will be filled with lot of trade barriers and inspections so it would lead to unfair practices starting regarding globalisation so globalisation will not with that effective as it was earlier.

International Financial system has been adversely affected by the coronavirus because the financial system between different nations are not that operational due to lack of transactions between them and since most of the transactions are conducted its digital globalisation has not infected much on to them and there has been not that much of panic due to prolonged lockdown due to Coronavirus