Question

Discuss the extent to which the Covid-19 pandemic might bring back trade protectionism.

Answer 1

Corona virus may result in the reemergence of trade protectionism. Due to the pandemic, most of the companies do not perform well economically as they used to.

Trade protectionism aims at protecting the domestic industries from competition brought by the foreign countries. It is important to keep trade flowing to ensure to ensure that the global economy is stable. Post corona virus pandemic will see nations working towards their economy. Nations will want to keep off competition from other countries.

They will want to rebuild their economy with no competition whatsoever. There will also be trust issues amongst countries and this will result in trade protectionism. Nations will want an assurance that the imports will not be a health risk.