Implications of Covid-19 for Globalization

Authors

• Felbermayr
• G.
• Görg
• H.

Publication Date

Key Words

Related Topics

• World goods trade and its institution were in a deep crisis before the Corona crisis hit.
• The crisis exacerbates this trend. Achieving “decoupling”, regaining “economic” or “technological sovereignty”, and of reshoring production has become an objective in many countries, including the EU.
• At the same time, digital trade and trade in digital products (software, licenses, …) is more resilient and expected to grow after the crisis.
• These trends are troubling for the EU and for Germany in particular, as their traditional comparative advantage industries will come increasingly under pressure.
• The EU must do much more to defend an open multilateral trade order and to develop appropriate rules in the area of digital trade.

Kiel Institute Experts