Globalization: On hold or in reverse
In 1665 the plague ravaged the United Kingdom and as a precaution, the University of Cambridge was closed for just over a year. During his leave, the student Isac Newton arrived at the law of gravity. Magnus Lodefalk, associate professor in economics, uses the law of gravity as a starting point for analyzing the corona pandemic's effects on globalization.
Magnus Lodefalk is an associate professor and senior lecturer in economics. As a trade economist, he has broad experience of analysis of international trade and trade policy, with a focus on the WTO.
Country after country has now imposed restrictions on international travel, and foreign trade is collapsing in tandem with falling demand and disruptions in supply chains. The coronavirus has put globalization on hold. But will globalization be reversing in the longer term?