Globalization under the Dual Impact of COVID-19 and Technological Progress

December 21 , 2020 04:52 PM by Wang Dong, Jia Zifang

[Author] WANG Dong, JIA Zifang

[Abstract] The COVID-19 pandemic has had a significant impact on globalization by disrupting the global flow of goods, people and capital. The underlying cause of this impact is that the global networks that are formed under a mode of production that depends on congregating people are vulnerable to disruptions and unsafe. Since human society needs to restore the flow of the elements needed for globalization to develop in a more secure way, technological progress is a direct answer. Technological progress can keep people safe when facing biosecurity challenges. It enables institutions to better respond to biosecurity challenges by maintaining their ability to operate even when people are in quarantine, providing stronger monitoring and prediction capabilities for biosecurity risks, improving supply chain security, and promoting institutional adaptations. All these effects help human organizations reduce their vulnerability to biosecurity challenges. As a result of the dual impact of COVID-19 and technological progress, new developments in globalization have occurred including localization and regionalization, and the rising role of “re-globalization” led by China. The new globalization trends will be characterized by multi-centrism at the geospatial level and the global systemic level. China’s comparative advantages will help promote these trends toward a more balanced and secure globalization.

[Key Words]COVID-19 pandemic, technological progress, globalization trend, re-globalization, biosecurity