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Why Collaboration Needs to Win Over Protectionism

Benjamin Laker    Henley Business School    

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abstract

The Covid-19 virus is severely affecting international trade, creating a negative fiscal outlook. Consequently, the global economy is receiving its sharpest reversal since the Great Depression. As such, we are seeing several countries invoke restrictions or taking action to secure medical supplies. A by-product of this is protectionism. One should worry most about developing countries without any domestic suppliers, who also need critical medical supplies, and who will be locked out, and not access essential equipment, medicines, and basic foodstuffs because of export restrictions set by developed nations. Therefore, collaboration is needed more than ever to ensure economic and societal prosperity throughout the world, rather than within a small number of isolated, prosperous regions.

Published
July 31, 2020
Accepted
June 30, 2020
Submitted
June 3, 2020
Language
EN
ISBN (EBOOK)
978-88-6969-442-4

Keywords: TradeInformal economyProtectionismCollaborationXenophobia

Copyright: © 2020 Benjamin Laker. This is an open-access work distributed under the terms of the Creative Commons Attribution License (CC BY). The use, distribution or reproduction is permitted, provided that the original author(s) and the copyright owner(s) are credited and that the original publication is cited, in accordance with accepted academic practice. The license allows for commercial use. No use, distribution or reproduction is permitted which does not comply with these terms.