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On 4 February, President Marcelo Rebelo de Sousa admitted that the epidemic of the new coronavirus in China "affects the economic activity of a very powerful economy and thus affects the world's economic activity or could affect". He also admitted the possibility of economic upheavals due to the break in production."
The economic impact of the COVID-19 pandemic in the United States has been widely disruptive, adversely affecting travel, financial markets, employment, shipping, and other industries. The impacts can be attributed not just to government intervention to contain the virus (including at the Federal and State level), but also to consumer and ...
Globalization is the process of increasing interdependence and integration among the economies, markets, societies, and cultures of different countries worldwide. This is made possible by the reduction of barriers to international trade, the liberalization of capital movements, the development of transportation, and the advancement of information and communication technologies. [1]
While economic globalization has been in expanding since the emergence of trans-national trade, it has grown at an increased rate due to improvements in the efficiency of long-distance transportation, advances in telecommunication, the importance of information rather than physical capital in the modern economy, and by developments in science ...
The flat world of information has been created thanks to the Internet and globalization. This phenomenon allows individuals to have access to cultural and ideological beliefs without having to go to other countries, resulting in immobile acculturation. [4]
Others have also called for the pandemic to be used as an opportunity to reset the effects caused by global warming. Charity The coronavirus lockdown has showed the nation at its best in terms of ...
Shifts in technology associated with globalization have also had an impact on multilingualism and on majority language use generally. Since the 1990s, the widespread use of the internet, and later of smart devices, has expanded the necessity of both receptive language skills like reading and listening and English multilingualism. [13]
Taiwan has also voiced concern over being included in any travel ban involving the People's Republic of China (PRC) due to the "one-China policy" and its disputed political status. [4] Further afield, the treasurer of Australia was unable to keep a pledge to maintain a fiscal surplus due to the effect of the coronavirus on the economy. [5]