The incoming chief economist of the leading multinational organization seeking to help integrate developing nations into the world economy said the era of globalization is probably dead. “Without being melodramatic, Covid-19 is like the last nail in the coffin of globalization," Carmen Reinhart, a professor of international finance at the Harvard Kennedy School, told Bloomberg TV’s Alix Steel and Michael McKee. “The 2008-2009 crisis gave globalization a big hit, as did Brexit, as did the U.S.-China trade war, but Covid is taking it to a new level." The spread of the coronavirus has prompted governments to shut borders and raise barriers against exports of food and even health products.
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