Globalization – a Cause or a Solution for Corona Economic Crisis

Bucharest University of Economic Studies, 6 Piata Romana, Bucharest, Romania

^* Corresponding author: razvan.dobrea@man.ase.ro

Abstract

Research background: Since the extension of the Corona virus there are people saying that all this is happening because of globalisation, phenomena that diminished the control of states at the borders, lack of strong internal security rules, loose of political responsibility and decisions, etc. In this paper we investigated the situation from different economical perspectives and we clearly show the existence of positive effects of globalization. We will never know certainly enough at which percentage the current crisis results from a mismatch between the intensity of economic and human exchanges and the inability of public authorities to be prepared and take fast and appropriate decisions. It is well accepted that in a globalized world, interdependence prevails over sovereignty.

Purpose of the article: We will analyse if this reality is really one of the main problems which cause the current disaster. Nevertheless, it would be too easy to blame only the lacks of effective globalization, much complicated is to identify the problem and solve it. Searching if the globalization is the cause or the solution may be interesting since from the political side, we will see a wave of critics and sceptics, many politicians will try to reposition in order to gain visibility and votes.

Methods: Using descriptive and comparative analysis we demonstrate that societies may obtain greater benefits from cooperation, collaboration and integration, even in pandemic times.

Findings & Value added: In a global world, we can see that borders do not protect against a pandemic and that all the major challenges facing humanity can only be solved by multilateral systems and by multilateral negotiation. We clearly demonstrated that global society has greater benefits from cooperation, collaboration and integration.