Global cooperation must still drive post-pandemic recovery and growth

ONE need not be an astute economic and political observer to predict that the global pandemic now ravaging the world, particularly the United States and members of the European Union (EU), is going to unleash powerful anti-globalisation sentiments and accelerate the drive towards localism and nationalism.

In fact, the backlash against the process of expanding international commerce, the opening of borders between nations and the creation of multilateral and supranational forms of cooperation started affecting Western politics and economic policymaking long before the first whiffs of perils of any novel coronavirus emerged.

Indeed, growing opposition to immigration, intensifying protectionist pressures, the rising significance of national, ethnic, religious and tribal identities have already re-shaped political and policy debate, as demonstrated in the election of President Donald ("America First") Trump and the pullout of Britain from the EU.