“One world” no more

The pandemic might give way to an era of deglobalisation

- SHASHI THAROOR

A post-Covid world? The thought seems to belong in the realm of fantasy. Most of us can barely recall life before Covid, let alone contemplate an existence without it. As the country braces for a “third wave” and vaccine manufacturers talk about the need for “booster shots”, can we truly contemplate a post-Covid world?

Yet though it is too early to assert anything with certitude, I will stick my neck out and say that it seems increasingly likely that Covid-19 will inaugurate an era of deglobalization. The signs are mounting that the world may embrace isolationism and protectionism in a far more enthusiastic way than prior to the outbreak, including in India.

The indications are evident. The pandemic has confirmed, for many, that in times of crisis, people rely on their governments to shield them; that global supply chains are vulnerable to disruption and are therefore unsustainable, and that dependence on foreign countries for essential goods (such as pharmaceuticals, or even the ingredients that go into making them) could be fatal. Nations tried aggressively to acquire medicines and supplies for their own people at the expense of each other. There is a rush to reset global supply chains and raise trade barriers: the demand for more protectionism and “self-reliance” (echoed in Prime Minister Modi’s call for “atmanirbharta”), for bringing manufacturing and production value chains back home or at least closer to home, is mounting.