Globalization During a Pandemic



HostPanelistsSession Description

David Gautschi, Joseph Keating S.J. Professor of Marketing and Business Economics, Dean Emeritus

David Lampton, Professor Emeritus and former Hyman Professor and Director of SAIS-China and China Studies at the Johns Hopkins School of Advanced International Studies

Jonathan Story, Emeritus Professor of International Political Economy and the Shell Fellow in Economic Transformation, Emeritus at INSEAD

David C Nagel, Executive Vice President, BP (retired), and co-founder Forum2100

Globalization During a Pandemic

In the early 1990s, the establishment of the WTO replaced a series of GATT protocols that expanded international trade and ushered in an era of 'globalization' that became a moniker for the global political economy of the ensuing decades. During this time, the U.S., China and Europe implemented structural changes to adapt to the opportunities presented by the new international trade regime. The consequences of the new globalized world of business appear to be a mixture of remarkably sustained economic growth of developed economies and emerging economies alike, yet with accompanying wealth disparities especially within the most developed economies in Europe and the U.S. Now the COVID-19 pandemic has disrupted trade flows, threatened supply chains, confused the capital markets, and imposed significant pressures on states to take measures to keep their respective economies afloat. The questions that we seek to address are whether and how these disruptions will alter the systems that enable or govern international trade and business activity, generally, with particular attention to the perspectives of the U.S., Europe, and China. We shall also address the origins, alternative concepts, and evolution of globalization and its influence on the conduct of business.