4 min read.Updated: 06 Jul 2022, 01:18 AM ISTArjun Goswami,Avaantika Kakkar
A confluence of factors has made space for us to help reshape global trade and supply-chain arrangements to our advantage
As countries chalk out paths of post- pandemic recovery, the complex task of opening up cross-border markets for the movement of people, goods, services and capital flows, and getting back to pre-pandemic levels of international trade, will play an important role in a broad economic revival to complement and reinforce domestic recoveries. But is this vital aspect of globalization still feasible, or is the whole phenomenon at an end? Are we seeing a return to ‘country first’ policies reminiscent of the 1920s? Just as Francis Fukuyama’s triumphalist pronouncement of “the end of history" in the early 1990s after the collapse of Soviet Communism was in hindsight completely misplaced, prospects of the death of globalization may also be greatly exaggerated, to borrow Mark Twain’s language. However, its survival may require a new kind of globalization for a new era.
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