By Daniel Yermenko
Death or the dawn of globalization?
It is not correct to say that the coronavirus has failed the idea of globalization, because the new pandemic that is sweeping the world has only shown how fragile the system of globalization is these days. I believe that to some extent COVID-19 has even had a positive effect on globalization, because now countries will be able to see where they are vulnerable and correct their shortcomings.
The main problem that caused the collapse of globalization was the lack of protective alternatives for production (Policy Department for External Relations, 2021). When countries rely on the global trading system and as a result begin to specialize in certain industries, they endanger those industries that are less focused on, because if the trade channel suddenly closes, the state will have nowhere to draw resources they are unable to provide.
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