Would COVID-19 Be the Turning Point in History for the Globalization Era? The Short-Term and Long-Term Impact of COVID-19 on Globalization

Abstract

COVID-19 is currently changing our understanding of the world around us. It has challenged many of our ideologies: from capitalism to neo-liberalism, from the over-significance of work to realizing work-life balance, and from globalization to nationalization. In this post, we argue that COVID-19 pandemic was an inevitable result of globalization and that the pandemic, in turn, had seriously threatened the world’s globalization. The pandemic had disrupted the international legal order: legally, socially, politically, and economically. Nonetheless, we contend that the pandemic’s adverse effects on globalization is temporary, and that it would provoke more international cooperation among nations on the long run. In order to demonstrate our argument, we will lay down the social, political, legal, and economic effects of the pandemic on globalization.

Keywords: COVID-19, Corona Virus, International Law, Politics, Law, Philosophy, legal, Globalization, investment Arbitration