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The Transformation of Global Trade in a New World: Deglobalization and Its Risk in International Trade Post COVID-19
Abstract
COVID-19 has reduced international joint ventures. However, most of the organizations across the world have adopted deglobalization, and it has aided in facing the problems of natural disasters and other challenges. Thus, with globalization and internationalization reduced, organizations are focused on the domestic markets for the investment and manufacturing process. This chapter highlights deglobalization. International trade is also one of the expected survivor tools of the current pandemic situation, but due to COVID-19, it has depreciated, and people have started to believe in deglobalization, which has increased the value of domestic markets. Further, this chapter discusses the risk of deglobalization in the world economy and the consequences of deglobalization on international trade post COVID-19.
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