Opinion
Finding global solutions
The coronavirus crisis is a global event of the century and we will probably still be telling our grandchildren how pasta, flour and toilet paper were sold out for weeks. The good news is: These products can now be found again in supermarkets in many places. But good news is rare these days.
The government is now expecting the biggest slump in economic growth since the founding of the Federal Republic of Germany. According to the spring forecast, gross domestic product is set to shrink by 6.3% in 2020 compared to the previous year. Corona has paralyzed production worldwide and international supply chains have been interrupted. Companies' export expectations have fallen sharply, the World Trade Organization expects a drastic decline in global trade and borders have been closed. And the crisis is fueling national egotisms, some of which are taking on grotesque proportions; a popular rumor in this context is that US President Trump wanted to acquire the Tübingen-based company Curevac, which is working on a coronavirus vaccine that would have been produced exclusively for the US market.
The coronavirus in particular shows that major problems have a global impact and require global solutions. For example, if respiratory masks, ventilators and disinfectants can be sent around the world in just a few days, it is only thanks to a global infrastructure. International cooperation is also essential when it comes to researching the virus and a possible vaccine.
It remains undisputed that the pandemic will trigger a global economic recession and that supply chains of internationally networked companies are one of the weak points of a globalized economy. Of course, corrections will be necessary and will be made. In post-corona times, companies will have to focus more on security of supply than on the cost argument. Dependence on a single sales market will have to be minimized or even avoided, and procurement risks will also have to be spread. However, there can be no turning away from a globalized economy, especially not for an exporting country like Germany.
Yours
Annina Schopen
Editor handling
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