Globalization in the aftermath of the pandemic and Trump

Abstract

Covid-19 has exposed and deepened global inequalities: rich countries spent aggressively to sustain their economies and secured early vaccine access while most of the developing world continues to endure a growing disease burden. It also underlined the extent of inter-dependence and weaknesses in some of our international institutions and rules, many of which were established in the now discredited era of neo-liberalism. There is a rich, complex, and difficult agenda going forward for international cooperation. This includes aiding developing countries in restructuring their debt obligations, and guaranteeing that multi-national corporations pay their fair share with a robust international tax regime, better trade and intellectual property regimes, and better global regulatory frameworks for competition and social media. The failures of the past rules have led to political opposition to globalization. The only sustainable and inclusive path out of this pandemic is through cooperation and a re-imagining of globalization.