“For years to come, business schools around the world will likely be citing the 2020 Covid-19 Coronavirus crisis as one of the best all time examples of a Black Swan event.

For the global economy, it will likely cause a complete re-evaluation of our collective attitudes towards globalization.

An all-time black swan

More than any business school corporate case study ever could, the Covid-19 pandemic has made crystal clear how economically and socially interconnected our world has become.

This pandemic has revealed how globalization, with its unparalleled levels of human interaction and mobility, has facilitated the rapid spread of this highly contagious disease.

Faced with a global health disaster, governments around the world are doing their utmost to save human lives and not thinking about the future of globalization as an existential priority.

Never too early to re-think globalization

But while efforts are underway to manage the health challenge and the economic challenge, it is not too early for other policy makers to begin examining why globalization did not work out the way its advocates either wished or thought it would.

This examination should yield some very clear answers. . .”

Excerpt from The Globalist, March 24, 2020.

This article reflects the views of the authors and are not necessarily the official policy of the United States, Germany, or any other governments.