Post by account_disabled on Mar 4, 2024 7:27:54 GMT
The free movement of people and goods will slow down Even before the pandemic, globalization was in trouble. The open trading system that has dominated the world economy for decades had been damaged by the financial crash and the Sino-US trade war. Now it is reeling again from its third blow in a dozen years, as quarantines have closed borders and disrupted trade. Passenger numbers at Heathrow Airport have fallen by 97% year-on-year; Mexican car exports fell 90% in April; 21% of shipping was canceled in May. As economies reopen, activity will also recover, but don't expect a quick return to a carefree world of free movement and trade. The pandemic will politicize travel and immigration and create the need for self-dependence.
This new position will weaken the Cambodia Telegram Number Data recovery, hurt the economy and spread geopolitical instability. The world has had several eras of integration, but the trading system that emerged in the 1990s went further than ever. China became the factory of the world and borders were opened to people, goods, capital and information. After the collapse of Lehman Brothers in 2008, most banks and some companies withdrew. Foreign trade and investment stagnated relative to GDP, a process that The Economist newspaper later called "slowbalization." Then came President Donald Trump's trade wars, which raised concerns about the future of manual workers and China's autocratic capitalism, but also a broader agenda of chauvinism and disdain for alliances.
When the virus began to spread in Wuhan last year, import tariffs on America had reached their highest level since 1993, and America and China had begun to isolate their technology industries. Read also: Covid-19 returns to Albania, 30% of cases are positive Infections with COVID-19 are increasing in Europe Since January, a new disruptive wave has swept west from Asia. The closure of factories, shops and offices has caused a drop in demand and has prevented suppliers from reaching customers. Damage is not universal. Food supplies are holding up, Apple insists it can keep making iPhones, and China's exports have so far been steady, largely thanks to sales of medical equipment. But the overall effect is remarkable.
This new position will weaken the Cambodia Telegram Number Data recovery, hurt the economy and spread geopolitical instability. The world has had several eras of integration, but the trading system that emerged in the 1990s went further than ever. China became the factory of the world and borders were opened to people, goods, capital and information. After the collapse of Lehman Brothers in 2008, most banks and some companies withdrew. Foreign trade and investment stagnated relative to GDP, a process that The Economist newspaper later called "slowbalization." Then came President Donald Trump's trade wars, which raised concerns about the future of manual workers and China's autocratic capitalism, but also a broader agenda of chauvinism and disdain for alliances.
When the virus began to spread in Wuhan last year, import tariffs on America had reached their highest level since 1993, and America and China had begun to isolate their technology industries. Read also: Covid-19 returns to Albania, 30% of cases are positive Infections with COVID-19 are increasing in Europe Since January, a new disruptive wave has swept west from Asia. The closure of factories, shops and offices has caused a drop in demand and has prevented suppliers from reaching customers. Damage is not universal. Food supplies are holding up, Apple insists it can keep making iPhones, and China's exports have so far been steady, largely thanks to sales of medical equipment. But the overall effect is remarkable.