Does the Coronavirus Require a Rethink of Globalization?
The hard-working staff here at Spoiler Alerts suggested Tuesday that the distribution of interests and power were not as favorable as they were in 2008 for the system to work in responding to crisis. Countries do not seem to be acting as though they would be better off from a coordinated response. The United States is not as powerful in the health domain in 2020 as it was in finance in 2008. The United States’ botched coronavirus response has, astonishingly, paved the way for China to burnish its credentials as the health provider of last resort even though the virus originated there.
The third part of “The System Worked” thesis was that the state of ideas also determined the caliber of a coordinated global response to a crisis. In 2008, the commitment to globalization was embraced by the three most important actors in the system: the United States, the European Union and China. In 2020, that commitment to a global response is very much under assault in all three countries.