THE NEW ECONOMIC ORDER AFTER GLOBALIZATION, ANTIGLOBALIZATION AND COVID 19
Research Article
THE NEW ECONOMIC ORDER AFTER GLOBALIZATION, ANTIGLOBALIZATION AND COVID 19
ABSTRACT
The dstinctive marks of the late 20th and early 21st centuries are globalization, anti-globalization and the novel coronavirus (Covid-19). Many authors and experts have talked about the benefits of globalization. Globalization is a fact of life. It is a growing economic, social, political and cultural integration of nations around the world. It has brought a lot of benefits to both, developed and developing countries. The last, fourth wave of globalization 4.0, that coincidies with the 4th Industrial revolution is characterized with digitalization, Internet of things, artificial inteligence, robotics, nano-technology, selfdriving and eco-friendly vehicles and big data.Thanks to the globalization, people could enjoy the free movement of goods, services, ideas, information. Globalization makes it easier than ever to access foreign culture, including food, movies, music, and art. While globalization offers many benefits, it’s not without challenges. Pascal Lamy, the ex-Director General of the WTO, noted that „globalization is incredibly efficient, but also so far incredibly unjust“. Globalization is not a perfect process. Anti-globalists blame globalization for inequality in the world, the westernization of world economic and political life, the homogenization of cultures, and the emergence of new problems, such as international organized crime, global terorrism, worldwide environmental problems, violence, women trafflicing, etc. And it could be said that everything was fine until the new coronavirus appeared which caused a great lockdown and the biggest global economic crisis in the 21st century. The novel coronavirus was declared as a pandemic by the World Health Organisation in March, 2020. It was called „Once in a century pandemic“, or a „Wuhan virus“ as it has firstly appeared in the Chinese city of Wuhan in December 2019. From September 2020 every economy in the world was in a recession or depression. Coronavirus overshadows globalization by closing borders, national quarantines and lockdowns, restrictions on movement of people, products, services, business closures, high unemployment, health crisis. Will the coronavirus bring the end of globalization? Based on the economic indicators, experts have proposed many scenarios about what will happen after the pandemic. Will the world be the same? What economic order do people can expect? One thing is certain, that globalization will continue and will not vanish so easily. Angela Merkel, the Chancellor of Germany gave a thought for the forthcoming globalization, that „the globalization needs to be shaped politically, it needs to be given a human face, but we cannot allow to fall back into plagued globalization times“. So, probably we will live in a globalized world for a long time to come.
DIMITRIESKA, S.,
&
EFREMOVA, T.,
(2021). THE NEW ECONOMIC ORDER AFTER GLOBALIZATION, ANTIGLOBALIZATION AND COVID 19. Trends in Economics, Finance, and Management Journal, 3(1), 10-18. Arrival Date Posted By:https://tefmj.ibupress.com/articles/the-new-economic-order-after-globalization-antiglobalization-and-covid-19
