A boost for our immune systemDespite the gloomy prospects for 2020, I do not believe that we will see a permanent, massive decline in global connectedness after the crisis.
I think globalization will take hold again. Even the most pessimistic scenarios do not have trade and capital flows collapsing.
Instead, predicted declines foresee a return to levels that, in the 2000’s, were widely considered a sign of hyper-globalization.
At the same time, the pandemic in many places has made it especially clear how important globalization is for our economic and social “immune system".During this crisis, many globally active companies have found themselves in a much better position than companies with a purely national or regional focus.