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Will COVID-19 Kill Globalization? Long Term Impact from the Virus Could be Felt for Years

Will COVID-19 Kill Globalization? Long Term Impact from the Virus Could be Felt for Years Read Transcript


- The map on the leftwas air travel in Europe

one year ago, on theright, air travel now.

In the span of just a few months,

international travel has been set back

more than one hundred years,

and except for meeting people online,

our once interconnected world

has largely been disconnected.

Could coronavirus killglobalization as we know it?

The pandemic has broughtback nationalism and borders,

and could have a longterm impact

on the way the world is organized.

- If we have learned onething, it's let's do it here,

let's build it here, let's make it here.

We've got the greatestcountry in the world.

We've gotta start bringingour supply chains back.

- [Dale] President Trumpwants to make America

more self-reliant.

When coronavirus was raging,some nations got burned

when they couldn't get theemergency supplies they needed.

European Union nations closedtheir borders with each other

like enemies, and in some cases,

denied help to each other.

- We are on the verge of a great awakening

in terms of what is at stake.

- [Dale] Dr. William Moloneyof the Centennial Institute

believes many eyes have been opened

to the dangers of unchecked globalization,

which he claims was neverthe path to global prosperity

that it was supposed to be.

- What happened is thatmost of the savings

from exploiting cheaplabor, mostly in Asia,

went to corporate headquarters,

and a real result was the hollowing out

and outright collapse of a wide swath

of American manufacturing.

- [Dale] Trade expert SimonLester thinks globalization

was mostly good, and willreturn, but in another form.

- I think that we willreturn to the same level

of interconnectedness, but we might be

connecting in different ways.

- [Dale] Lester also believesthe Chinese government

faces a reckoning, possibly in the form

of economic isolation by some countries

for spreading a deadly virusthrough lies and coverups.

- Yeah, I think there'sgonna be an investigation

into what happened, and China's gonna get

a lot of the blame, andthere's gonna be some degree

of economic decoupling.

- [Dale] Experts expect moreAmericans to flee major cities,

some of which becamedangerous killing zones

when the pandemic was raging,

and travel industry analystHenry Harteveldt says

the airlines may not be healthy again

for a very long time.

- You'll see fewer airplanesflying than you did before.

You may have fewer airlinesoperating than before.

- [Dale] Experts sayone worst case scenario

is if for some reason coronavirusnever completely goes away

and then experts say it willreally be a whole new world,

and perhaps not a very nice one.

Dale Hurd, CBN News.

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