Comment: We need to reinvent rather than roll back globalisation
The pandemic has caused many countries to put national interests first, but while globalisation has many faults, it has also lifted billions of people out of poverty, so our focus should be to reform rather than destroy it
The Covid-19 pandemic has prompted much reflection on the state of globalisation, its drawbacks at a time of worldwide disruption, and the supposed benefits of retreating to the national sphere. In this sense, as in many others, the current crisis has accelerated pre-existing tendencies.
The global trade-to-GDP ratio – one of the main indicators of globalisation – has followed a downward trend since 2012, and anti-globalist political movements have been gaining in popularity for some time.
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