Discuss the impact of the novel coronavirus pandemic (Covid-19) on international trade
COVID-19 is uprooting economic globalization’’ (WEF, 2020). Discuss the impact of the novel coronavirus pandemic (Covid-19) on international trade for ONE of the countries listed below: UK India China USA Japan Discuss the economic implications of Covid-19 for this country, including: trade relations with main trading partners, FDI inflows and outflows and the country’s economic growth forecast. Drawing on the economic principles covered in this module, assess how the country has responded to the health pandemic with their economic policies I.e. examples of supply-side and/or demand-side economic policies. Aspects to consider: 1. Introduction: what is globalisation and define some of the terms that will be included in your essay. Start off with the global perspective by providing an appraisal of the current global internal trade situation and global FDI flows I.e. that international trade has contracted with FDI projected to contract by 40% this year (WEF, 2020) 2. Then move in from a global view to a national view, to include macroeconomic data for your country of choice (e.g. national unemployment rates, GDP trends etc.) and start to explore how Covid-19 has impacted that county’s economy and trade (how have supply chains been disrupted?). How has the country responded – I.e. supply side and or demand side economic policies? 3. Bring in a detailed example (either a company or industry example) to support the points you are making to provide practical insights 4. Finally, what are the overall implications – is that country rethinking its international trade strategy to reduce their vulnerability to the global economic shock? What is the longer-term outlook for globalisation? Add critical analysis into these discussions. 5. Conclusion – summarise your essay and the main points that have been addressed – do not add anything new in your conclusion section 6. References – as a guide, aim for 1 reference per 100 words, so approx. 20 references for this whole essay. *please focus your discussion on the economy and trade given that this is an assessment for your international strategic management module. Please do not use up your valuable word count going into depth about the health implications of the coronavirus pandemic – instead keep it focused on the business-side.