Coronavirus pandemic to be end of globalization

The increase of automatization and slowdown in globalization will be the main trends of the world after coronavirus pandemic.

Report informs, citing the ‘COVID-19: Ten years later’ study of the Bank of America, that robots will probably replace nearly 75% of workplaces in the developing countries after the pandemic. So, the share of production in developing countries is higher than in developed countries. At the same time, changes are expected in supply chains, new jobs are reported to be opened, and a large amount of investments to be made in Asia, Central and Eastern Asia, Turkey, Mexico. Though many developing countries will face difficulties, they have opportunities for capital investments.

According to Finam.ru, US export cannot win the competition due to the depreciation of currencies of the developing countries against USD about 20%. The experts say that although the economies of the developing countries will be more durable against the shocks more than previously, a number of factors will prevent them from growing. These factors are a large amount of debts in foreign currency for Turkey and Argentine, a negative ratio of current operations to GDP in Brazil, Indonesia, Saudi Arabia, and fewer investments of non-residents for Poland.