PARAGRAPH FORMATION

1. Intro
a. What is globalization in the contemporary world?
i. How does globalization affect our contemporary world?
b. How do pandemics impact the global economy?
2. Body
a. Is it the end of globalization? Yes
b. Why has it been so?
3. Conclusion
a. Will globalization remain finished?
b. What is the future for globalization?

 The impact of covid-19 is having on the global economy.

o Empty streets have become the new normal during the covid-19 pandemic. Thousands laid-off or for load, stores
shutdown, public gatherings banned, travel restrictions and physical distancing imposed as a third of the world practices
some form of a lockdown to slow down the spread of covid-19. And all of this is having an impact on our global economy.
Industries like airlines, import-export companies, tourism, retailers, events, restaurants, and many other non-essential
services have been hit. Some harder than others. The united nations say we may see a 2 trillion USD short fall in our
global income and a 220 billion USD hit to developing countries excluding China because of covid-19. It’s catastrophic,
we’ve never seen anything like this. We have a huge portion of the economy and people under lockdown, that’s going to
have a huge impact on what can be produced and not produced. Many services have been able to go digital in an effort to
continue running their business. Such as e-learning, online fitness classes, food and grocery delivery services, and
telecommunication apps. We’re seeing this massive push that’s going to result in all kinds of services being available
remotely that previously weren’t. And many companies have been able to adapt from working from home, a new pattern
that seems to be forming as part of our new reality. I think this is certainly going to be one of the long-term legacies of this
crisis. People will work and interact differently. The crisis is going to motivate capability development and the energy
imperative to move digital. But there are many industries that can’t switch to a digital platform and continue functioning.
Such as hair salons, spas, events, movie theatres, and the tourism industry. There are those within the worst-case
scenario, wherein they can’t transform their business model into digital, and/or maybe a non-staple type of purchase, and
have low financial resilience (access to cash and credit), well that’s where we’re going to see carnage first. But a
particular industry that is experiencing both a positive and negative effects from covid-19 is the oil industry. While the
steep decline in gas prices isn’t good for countries which rely on oil exports it’s a good thing for consumers and can be a
benefit to the global economy. It’s only been a few months since parts of the world have essentially come into a halt, so
figuring out how long this economic decline will last is a challenge.
 For the first time in history, a majority of the global population resides in urban areas. This rapid pace of urbanization complicates
pandemic preparedness. Most of these viruses or bacteria that have pandemic potential start in animals, they’re zoonotic diseases.
So, this recipe of urbanization, globalization and the right environmental ecosystem is just setting us up for a spillover event. What
all the success of connecting those areas to urban areas to promote the sale of goods both the transport of people also
unfortunately promotes the transport of disease.
 The spread of the coronavirus has pushed the pause button on one of the world’s biggest economic powerhouses. Decades of
globalization have created supply chains so deeply interconnected that when there are issues in China’s economy, it’s felt across
the globe.
 Covid-19’s global spread has implications on global trade, cross-border investment, global supply chains and globalization. Is it
“de-globalizing” temporary? Or will it continue after the pandemic?
o With covid-19 spreading fast to all corners of the world, implications on global trade, the cross-border investment, global
supply chains, and globalization are sobering. We are seeing a de-globalizing world triggered by not so much by
protectionism but by an unexpected virus.

Keep in mind that covid-19 is a public health crisis and not a market crisis.

 Has the pandemic made globalization look like a liability?

 How is covid-19 harming globalization
o The pandemic didn’t help, because it actually breaks the supply chains and actually encourages people to be even more
anti-globalization. But if you look at the numbers, we have seen a slowdown in exports from all the countries. And we also
have seen less financial globalization in terms of cross-border investment and capital flows.
 What are the main forces behind deglobalization?
o …
 How are supply chains being affected by covid-19
o Many supply chains that were developed mostly because of increasing efficiencies and the benefits of using workers that
are paid at a much lower wage in developing countries. Individuals, governments, and companies are going to become a
lot more risk-averse, partly because they finally realize supply chains are a lot more fragile than what they have expected
and partly because they realize all of a sudden they have been too dependent on the supplies from individual countries in
particular China. Global supply chains will become more fragmented and more regionalized because firms are going to
focus more on “just in case” rather than “just in time.”
 Is globalization obsolete?
 o It is not obsolete, because I think there’s still a lot of individuals and companies and economies to benefit from
globalization. One very important theme in
 Global transport and distribution networks have been deeply affected by the covid-19 pandemic. Supply chains across the world
were suddenly placed under severe stress, trying to balance surging demand for certain products with a need to limit human
contacts to slow the spread of the illness. The fallout so far has many people asking if globalization can return to what it was before
the pandemic or if global interconnectedness of the future will be altered forever.

The coronavirus pandemic affects everyone. The global economy is in a state of paralysis. Businesses are closed, production has
ground to a halt.