Highlights
Overview
Globalisation is defined as the trading of merchandise, administrations, development, financial arrangements, organisations and technology.
Thesis statement:
This paper is about how Covid-19 is having an effect on globalisation and the long and short term changes the pandemic has been causing throughout the world, such as stores shutting doors, prices rising, inventions.
Body:
1. There are many reasons why COVID-19 may mark the end of globalisation
a. This global pandemic does not mean globalisation shall come to an end; the Interdependence and persistence as the world continues to find ways to exchange goods (Olavide , 2020).
b. Digital devices allow businesses to provide service, allowing goods to exchange hands without providers and consumers meeting face-to-face. These non-contact services were here long before but have recently become a staple due to COVID-19.
2. COVID-19 and International Business
a. The rapid development of social and economic circumstances brought to light due to Covid-19 are hastening the procedure of digital advancements of the global economy and humanity, these technologies post-pandemic are based on digital applications of manufacturing revolutionary technology tools. (Robinson 2020).
b. To give an example of how quickly technology has changed and grown during this pandemic Google had a 500% increase in stocks during 2020 (Alphabet market cap 2006 - 2020).
c. Purchasing arrangements have already begun changing from conventional purchases to online, due to the ease of online shopping and technology at our fingertips.
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