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| The world system will not change, it will get worse |
Coronary outbreaks all over the world. Many people, including the IMF,The world system will not change, it will get worse are concerned about another recession. Coronavirus pandemic may be the cause of changes in the global political and economic structure. The political and economic impact may be far-reaching and widespread.
Many believed that Corona could only have a negative impact on the economy. The world system will not change, it will get worse . And China is going to be its main victim. But Corona's global expansion is forcing a change in thinking. The political influence of Corona has already begun to be seen. However, while the political impact is immediate, the economic impact will be slow and sustainable.
Corona is going to hurt the concept of globalization. At the same time, neoliberalism will undermine politics. And strengthen capitalism and populism. Capitalism was actively involved in the spread of Corona. Profitability is one of the reasons for Corona's expansion. If the factory, offices and educational institutions were shut down early, the outbreak could be reduced.
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But what's closed in a profitable economy? Here's the figure of profit-loss. Capitalists don't think too much about human death. The end of the year is when the balance sheet is not drawn. That's why the government started shutting down factories at the beginning. There is no more people-friendly, business-friendly government in the world.This massive expansion and fatality of the coroner reveals the nationalist and authoritarian character of the governments. Several countries have already closed the border. Many countries have prohibited imports and exports. On 11 March, the President of the United States announced that the entry of passengers from Europe would be closed.
The Hungarian right-wing nationalist government has also closed the border. However, in order to cope with the crisis, such policies by governments can shift the economy and politics from an international perspective to a nationalist one.
These recent decisions may be temporary in nature. Governments can also change their decisions if the coronary epidemic is reduced. But Corona will have an impact on the economy. Corona had already rejected the decision of some countries on globalisation. Austria, Hungary, Italy and France are populist activists in various countries to stop the free flow of goods and labor.
Populists are trying to create public opinion in favor of stopping immigration, saying that they are defending the domestic economy. The coronary disaster will give new people a chance. Meanwhile, the anti-China campaign is on the rise. US President Donald Trump's remarks about Corona as a Chinese virus
Such propaganda could jeopardize China's central commodity supply system. The Chinese market attracted investors due to cheap labor. But the wages of workers in China have risen in recent times. Donald Trump, on the other hand, imposed tariffs on Chinese goods by both sides in 2018 and 2019.
In the first two months of this year, Chinese exports decreased by 17 percent compared to 2019 due to tariffs and taxes. Many factories have been closed down. The production of European companies, in particular cars and iPhones, has been disrupted.
Investors may seek alternatives as a result of rising labor wages and current pressures. Vietnam or Indonesia could be preferred by Western investors as an alternative to China. In addition, Mexico and Central America can be a good choice for US investors. Traders in Europe may lean towards Eastern Europe or Turkey.
In order to avoid this economic disaster in the future, while maintaining its character, China has faced a strong hand against Corona. China has strictly controlled society, suppressed information, detained journalists, and made the most of its powers and capabilities. That is why there is a debate about the number of dead and wounded in China.
Meanwhile, the use of Corona words and masks has been prohibited in Turkmenistan. The Hungarian Victor Orban has gained immense power from the Parliament to fight against Corona. Without the approval of the Parliament, he could decide against the rumors about Corona. Critics say that Orban has increased his power by capitalizing on Corona.
Egypt has expelled three Western journalists for publishing news with incorrect government information Iran, too, did not want to recognize the spread of Corona by talking about US hostility, the use of germ weapons, and so on. North Korea has declared itself tax-free and has no power to reject the declaration within the country.
Many say that the Corona pandemic could change the global system. In particular, the rise of a single leadership in China may be on the rise. Such a situation is unlikely to happen. Because China is not yet ready for a single leadership.
Instead, the current world order will remain. The conflict between China and the United States will continue to escalate. In addition, the conservative trend in the country will be strong. The conservatives will support the export policy by ensuring the demand for local markets. Local labor is going to be used to stop immigration.
Coronavirus has been detected in 219 Bangladeshi people today
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