Question

How do you think COVID-19 is going to impact Globalization?

Post a 250 (absolute minimum) to 400-word response using formal citations (APA with web url)

Answer 1

Answer--Globalization is the process of integration and intraction of the firms,industrialists, and governments worldwide Mainly when we talk about globalization , then it includes sales and exchange of raw materials and finished good and services among the countries of the world. As we know that due to the Covid-19 there is complete lockdowns in all over the world ,all the shopping malls ,shops, stores are closed ,there is complete restrictions on the sale and purchase of non - essential goods,due to fear of spread of corona virus all the countries all over the world is neither exporting nor importing any type of non -essential raw materials and goods and services.

This is impacting globalization very badly ,there is chaos of uncertainity and fear among all over world ,and most of the economists in the early of 2020 forecasts of global economic growth down from around 3.0 percent to 2.4 percent, but current situation has become more worst then earlier and now it is predicted that the growth rate of world economy will be less then 1%.

Due to the corona virus ,there is shortage of labors and skilled labor in developed countries because due to the uncertainity on the end of corona virus and development of vaccine ,every country is deporting migrated workers from the countries.It will create both unemployment and undevelopment of economy.

Corona virus is also impacting the supply chain management all over the world,supply of goods and services is not taking place in any ways.Supply even cannot be resumed for the next 2-3 years properly ,cause none of the world countries can afford the risk of corona virus because it is highly communicable disease with no treatment .