The deglobalization virus: How far back will COVID-19 set the world?
SalonThe coronavirus and the efforts underway to control its effects are literally bringing much of the world to a standstill. The third great shock of this still relatively new century But COVID-19, the contagion which is so widespread largely because of human hyper-interconnectivity on a regional and global scale, is dramatically accelerating this process. The COVID-19 crisis has become the third great shock of the century, after the 9/11 attacks in 2001 and the process unleashed by the fall of Lehman Brothers in September 2008, which triggered economic and financial contagion. They often originated in China but, with border closings inside the EU, also increasingly affect intra-European supply chains. It also runs contrary to the advice of the World Health Organization, which advocated for continued flights precisely in order not to disrupt the supply of medical aid.