Globalization cannot simply resume after the virus is no longer a worldwide threat. The scars left behind are simply too deep to cover up with platitudes and promises to do better next time.
Two teams take the field. The smell of fresh-cut grass wafts through the air. The umpires take their places and the batter lines up for the first toss. It’s at this point both teams notice oddities. The person throwing the ball isn’t tossing it correctly and a strange rectangle has replaced the familiar diamond shape of the bases. Two teams entered the game, one prepared to play baseball and the other cricket. Chaos ensues.
We find ourselves in this situation in international trade and the global economy today. The Americans and the West set up a complex system of international rules and trade assuming everyone was going to play baseball, however the Chinese, Russians, and others have come prepared to play cricket. Globalization cannot simply resume after the coronavirus. The scars left behind are simply too deep to cover up with platitudes and promises to do better next time.
Published Date: September 15, 2020