Former WTO chief: Globalization to look different after COVID-19

Former World Trade Organization (WTO) Director-General Pascal Lamy is not worried about "denationalization" after COVID-19, but believes it will be different.

What's inevitable is the impact of COVID-19 on globalization, Lamy said during an online conference in April while sharing his views on how the global pandemic will change the world economy.

He began his speech with four "more" and two "less." He said the world will face "more governments, more precautions, less growth, more digital, more inequalities among countries and less inequalities within countries."

"I do not believe a post COVID-19 world will be globalized," Lamy used some strong words at the very beginning of the meeting, predicting that globalization is going to look a bit different.

"There will be some reconfiguration of production chains," he said, adding that value chains will be shortened in the future and production will be more localized.

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