Globalization in Context of Covid-19?Analyze various dimensions of globalization and the changes they are witnessing due to the Covid-19 pandemic
Globalization emerged as an aspiration for integrating world into a global village, and subsequently transformed the economic, political and cultural dimensions of the world. The Covid-19 pandemic exposed the vulnerabilities of a globalized world. Pandemic compelled countries to impose restrictions on international travel, foreign investment, export of medical supplies and disrupted the global supply chain. It led to a new wave of protectionism, self-reliance and nationalism. Globalization is the spread of products, technology, information, and jobs across national borders and cultures. Economic globalization includes flows of goods and services across borders, international capital flows, reduction in tariffs and trade barriers, immigration, and the spread of technology, and knowledge beyond borders. Since its emergence, many studies found the positive effect of globalization on growth through effective allocation of domestic resources, diffusion of technology, improvement...