Question

How much has the financial crisis 2020 affected globalization and how is it looking in the future?

Answer 1

Financial crisis 2020 which have been led by the coronavirus and the uncertainty is growing from the coronavirus and due to which is of the most nations are shut down and the inter movement of goods between these countries are also shut, so there is dent in the Global supply and global demand and it is leading to a lack of globalisation all over the globe.

there is a growing uncertainty about how long this crisis is going to sustain because the economies are just shut down due to a fear of contagion and inter movement between various economies are also halted and it has led to a shrinkage of global demand as well so it can be said that the momentarily pause in the movement of goods between different economies has been leading to complete failure of globalisation

It can be seen that many countries has started to isolating the Chinese economy because they believe that the current virus has started from China and it has been planted by China so these kind of global isolation can lead to a huge impact on the globalisation and there would be imposition of trade barriers and large number of regulations for movement of goods as well.

so it can be said that it will take a long amount of time before the things can get back to the normal as it is leading to health crisis and vaccine has not been found yet.