It is predicted that the GDP of most European and North American economies will drop by more than 4%, but the economic situation of China will be better than that of European and American economies. As almost all economies have adopted monetary and fiscal stimulus measures, they are expected to make up for most of the losses next year. Although the impact of the epidemic on various economies is uneven, due to the close ties between economies, this difference will not be great.
After globalization, traditional geostrategy and regional confrontation tend to ease, but non-traditional security factors such as terrorism, environmental degradation and public health crisis have become enemies of the world. However, a lot of cooperation on these non-traditional security factors seems to be insufficient. The cooperation and solution of these problems is the deep-seated factor that globalization brings universal well-being to the world.
Extended data
The epidemic is a public health crisis, but it is not limited to this. Global production and trade will continue to be affected in the coming months. In relatively backward countries, with the continuation of the epidemic, the discontent of the middle and lower classes continues to accumulate, which will produce many unpredictable changes with the increase of infection and death.
Active financial and public investment is bound to be the lifeline for countries to save their economies after the epidemic. Keynesianism after World War II may return to the focus, but the problem is that without Marshall in the world, it is unlikely that the United States will lend a helping hand to Europe. Global epidemics have added themes to environmentalists, and the topics almost inevitably extend from climate to public health and politics.
BEIJING-Watch: How will the COVID-19 epidemic change the pattern of globalization?
British expert: The COVID-19 epidemic will have a huge but temporary negative impact on the economy.