SUMMARY
The world has witnessed many epidemics which include among others the Spanish Flu of 1918, the HIV/AIDS, Severe Acute Respiratory Syndrome(SARS), the Middle East Respiratory Syndrome (MERS), the small pox, plague, polio and Ebola. Each of these individually has beenseverely pretty episode but the emergence of Covid-19 caused global panic which has never been seen or experienced in history. However, coronavirus disease 2019 (covid-19) originated from China inDecember 2019 and in few months it spread rapidly to almost all countries of the world turns out to be the biggest health crisis in the global history.
Worthy of note, was the global economic impact of the covid-19 due to lock down of school and temporary halt to economic activities. The economic impact of covid-19 among most countries was felt through three possible scenarios i.e. the labour productivity shock which comes from workers unable to do their job and it results into the average decline in labour productivity by 1.4% during the pandemic in 2020.The impact of covid-19 also caused a total factor productivity shock that is felt through atemporary paralysis of domestic activities caused by disruptions to distribute and the inability toprovide inputs and services due to quarantine for workers leading to a big enough reduction inglobalGDPby1%intotalfactorproductivitygrowth8.
This study having reviewed literatures and examined critically the impact of Covid-19 on globalization is perceived to have important implications for policymakers. No doubt, globalization has a favorable impact on economic growth and employment, the adverse effect of the large number of confirmed COVID-19 cases could show its dark side during a disease pandemic. Therefore, policymakers should consider the health risks associated with the increasing trend of globalization of markets and societies. It is shown that the increasing trend of globalization and opening of trade borders in countries with a low quality of formal institutions and monitoring capacity as well as low levels of transparency of information and government accountability may even lead to more illicit trade and smuggling. The latter types of trade are part of the shadow economy, which due to their hidden nature, are even more difficult to control with respect to diseases.
As public transport typically brings people into close contact in a confined space, stark mobility restrictions have been dully adopted to flatten the curve of COVID-19 infections, thus forcing entire populations to radically modify their travel behavior and shaping a worldwide change which is unprecedented in human history compared to other recent epidemics.
Therefore, policy makers and stakeholders in the state or internationally must come together to put up workable systems to control the spread of the Pandemic with it not affecting economic activities, mobility and travel as these are the drivers of globalization. Based on the findings of the study, the following recommendations are made;according to WHO 2020, the following guidelines were laid down as protective measures against the spread of Covid-19 which borders on the individual. They include:
- Get vaccinated as soon as it’s your turn and follow local guidance on vaccination.
- Keep physical distance of at least 1 metre from others, even if they don’t appear to be sick. Avoid crowds and close contact.
- Wear a properly fitted mask when physical distancing is not possible and in poorly ventilated settings.
- Clean your hands frequently with alcohol-based hand rub or soap and water.
- Cover your mouth and nose with a bent elbow or tissue when you cough or sneeze. Dispose of used tissues immediately and clean hands regularly.
- If you develop symptoms or test positive for COVID-19, self-isolate until you recover.
But for situation of national and international matters, there are few measures that should be adopted by the government as it is unhealthy for a nations’ economic development to disrupt or halt economic activities (drivers of globalization) for too long. Hence, it is recommended that the government should:
- Enforce the “get vaccinated” agenda or programme and make sure every citizen and visitors from the airports are vaccinated against Covid-19
- All visitors at the international airports should be isolated for few days and test should be ran on them afterwards should be vaccinated.
- Compulsion of wearing of well fitted face mask should be held in extremity.
