In the pursuit of protection
What lasting consequences does the Corona crisis have for our national economies and the global economy? A guest post about the pandemic, the trade war and the pitfalls of globalization.
BHowever, things are looking bad for the West in the 21st century: on September 11, 2001, terrorist attacks on America, then war campaigns in Afghanistan, Iraq and Libya, which instead of development and democratization resulted in deaths, impoverishment and political instability. In 2008 came the financial crisis, which contributed to the delegitimation of capitalism, followed by the euro crisis. In southern Europe in particular, national debt has never come under control. The refugee crisis has supplemented the north-south divide between more and less solvent European states with a division between more or less receptive Western and Eastern Europeans. With Brexit, the unification of Europe is going backwards for the first time. The concerns about the world climate were accentuated by the youth movement “Fridays for Future” and have further exacerbated the legitimation crisis of capitalism.
This year, fear of a coronavirus has suppressed the climate issue. The West seems to be coping with the virus worse than the country of origin China and some neighboring countries, especially the democracies Taiwan and South Korea, although the West has one because of the greater distance to China and the lower economic ties with China compared to South Korea or Taiwan longer advance warning should have benefited.