The global health pandemic and the ensuing global recession has caused unprecedented uncertainty, risks, and devastation to individuals, families, societies, and organizations. In this context, a central question arises: what are the prospects for globalization? This article addresses five pressing questions that affect globalization for multiple stakeholders: (1) How is this pandemic different from previous disruptive events? (2) Are there silver linings to this economic disruption? (3) What are current and future impacts on globalization? (4) How will different entities be affected? and (5) What will be the likely impact on major economies? We have opportunities to fundamentally shift international business for economic, environmental, and social advancements that offer hope during this overwhelming health crisis.

A comparison of the Great Lockdown of 2020 underway with the Great Recession of 2009, reveals some regularities, yet many differences. Notably, the shock associated with the Great Recession arose out of economy-wide stress, particularly high-income countries, while in direct contrast, the Great Lockdown was borne outside of the global economic system, and seemingly is set to leave most countries severely affected, high and low-income countries alike. Both crises, however, have led to similar impacts to economies throughout the world, with significant contractions to economic growth, economic activity and employment. For global food and agriculture, the Great Recession unfolded as a combination of two distinct crises that followed each other from 2007 to 2009. The initial 2007-2008 crisis was largely limited to food and agriculture, arising from a combination of supply and demand shocks within the global food sector. The 2009 crisis arose from an external demand side shock, brought about by the sharp contraction in overall economic activity in 2009, which is now known as the Great Recession. When referring to the Great Recession, this paper distinguishes two distinct sub-crises, i.e. the global food crisis of 2007-2008 and the global recession of 2009.

A collection of insider accounts describing the organizational impact of COVID-19 In The Great Lockdown: Lessons Learned During the Pandemic from Organizations Around the Globe, expert strategists Shivaji Das, Aroop Zutshi , and Janesh Janardhanan deliver an insightful exploration of this once-in-a-lifetime event to unearth invaluable learnings for the future. Told through the experiences of CXOs at billion-dollar companies, star start-ups, and non-profits from around the world, the book chronicles the ups and downs of sophisticated organizations as they navigated the COVID-19 crisis through initiatives impacting people, processes, and technology. Revealing case studies contributed by the CXOs of companies spanning multiple geographies - from the USA to Iran, Uganda to Hong Kong, and multiple sectors – social media, technology, aviation, luxury retail, healthcare, etc. Incisive analyses of the techniques and strategies that worked—or didn’t—for organizations during the COVID-19 pandemic, covering the role and evolution of leadership, organizational culture, innovation and digitization Practical guidance for business leaders to apply to their own firms in times of great economic upheaval: the next pandemic, climate disasters, cyber-attacks The leaders contributing their organization's survival and revival stories include those from Julius Baer, SAP, Terumo, IndiGrid, Tapsi, Fonterra, Hornet Networks, Globalization Partners, beCuriou, GoGoX, Abacus Pharma, Real Wear Inc, SOS Children's Villages, Bangalore International Airport, and A Lange & Sohne. Perfect for executives, managers, and other business leaders, The Great Lockdown is an invaluable addition to the libraries of anyone interested in case studies of corporate resilience and endurance in the face of unprecedented economic challenges.

What the IMF calls the ‘great lockdown’ has thrown Europe and the global economy into a deep recession. When putting their countries into lockdown, governments essentially pushed the panic button, mostly in the face of rising fatalities. Was this the right choice? The answer to this question is usually framed in terms of the lives saved versus jobs lost. However, a closer look at the actual expenses for medical care that the pandemic has engendered so far and a bottomup calculation for hospitalisation costs suggests that the economic costs of the great lockdown, while very large, might still be lower than the medical costs that an unchecked spread of the virus would have caused. There might thus be no need to assign an economic value to the lives saved to come to the conclusion that an unchecked spread of Covid-19 would have led to even higher costs than the great lockdown.

The coronavirus disease (COVID-19) pandemic has caused serious disruptions to the economy and business activities. The COVID-19 crisis has also exposed important weaknesses in business and supply chains. It pointed to specific sectors of the economy, primarily related to services, that suffered the most. On the other hand, it has highlighted the great flexibility of the activities of entrepreneurs in their attempts to fight the crisis. The role of government has also been important in tackling this pandemic crisis to contain the epidemic and adopt activities to help entrepreneurs who were most affected by the crisis. Numerous national aid and recovery packages have been announced to support businesses and workers. At the same time, financial decisions were made at the international level, resulting in the mobilization of huge funds that were intended to support the functioning of enterprises. This book shares observations and conclusions from contemporary research and analyses, as well as from personal experiences in creating and implementing anti-crisis solutions in economies and enterprises caused by the COVID-19 pandemic on the economy and its entities. It will be of interest to researchers, academics, policymakers, and students in the fields of international business, economics, crisis management, and entrepreneurship.

This book captures the dynamic relationship between COVID-19 pandemic, crude oil prices and major stock indices as well as the crude oil prices and stock market volatility that have been caused due to outbreak of this pandemic. The pandemic has changed the world melodramatically and major world markets collapsed in the beginning, affecting major industries in an unprecedented way. The book will be useful to the researcher in the field of finance and economics, and policy makers both at government and private level, keeping in view the present state of economy throughout the world.

Voluntary and government-mandated lockdowns in response to COVID-19 have caused causing drastic reductions in economic activity around the world. We present a parsimonious two-country-SIR model with some degree of substitutability between home and foreign goods, and show that trading partners’ asynchronous entries into the global pandemic induce mutual welfare gains from trade. Those gains are realized through exchange rate adjustments that cause a temporary reallocation of production towards the economy with the lowest infection rate at any point in time. We show that international cooperation over containment policies that aim at optimizing global welfare further enhances the ability of countries to exploit trade opportunities to contain the spread of the pandemic. We characterize the Nash game of strategic choices of containment policies as a prisoners’ dilemma.