THE IMPACT OF COVID-19 ON THE WORLD ECONOMY GLOBALIZATION
The article examines the COVID-19 impact pandemic on the world economy globalization. From the end of the 20th century and the beginning of the 21st century, globalization began to cover all processes of human life. This is especially true of economic processes in the world. In the article reveals the problems faced by businesses in each country due to quarantine restrictions. The concept of global economy and the reasons of occurrence of such phenomenon are analyzed. The fall of GDP in the countries of the world, difficulties of the organization of conducting business activity in modern conditions and possibilities of occurrence of interdependence of automation and unemployment are investigated. The downward trend in GDP has shown its dependence on the restrictions adopted by countries in the first and second quarters of 2020. In the third quarter of 2020, improvements can be observed as quarantine restrictions are lifted. The article notes that large enterprises, due to their resource potential, have invented ways to adapt their activities to the constraints caused by the pandemic. Most employees of enterprises have been transferred to a flexible mode of operation, and sme: online mode in conjunction with work in offices. There was a rapid transition of business to the Internet. The problem of job loss due to the spread of automation in the activities of enterprises is highlighted. Some companies see the automation of business processes as prospects for their development, so they begin to actively invest in this area of innovation. Problems related to automation, namely: rising unemployment, will need to be addressed by business and government together. The tendencies to deepen global processes and accelerate the application of new technologies are considered. It is noted that the deepening globalization of the economy will be due to large mergers, as they have more capacity and ability to stay in the market in today’s realities. Examples are given of how enterprises adapted and were able to maintain their positions during the pandemic. Despite all the problems facing large firms in 2020 due to the pandemic, globalization will intensify. After all, large enterprises have the resources to adapt quickly to crises.
2. Stadnyk M. Vplyv COVID-19 na svitovu ekonomiku. Retrieved from: https://msfz.ligazakon.ua/ua/magazine_article/FZ002118 [in Ukrainian].
3. Kulyts’kyy S. Problemy rozvytku ekonomiky Ukrayiny, obumovleni pandemiyeyu koronavirusu COVID-19 u sviti, ta poshuk shlyakhiv yikh rozv’yazannya. Retrieved from: http://www.nbuviap.gov.ua/index.php?option=com_content&view=article&id=4889:otsinka-perspektiv-rozvitku-ukrajinskoji-ekonomiki-v-umovakh-pandemiji-covid-19&catid=8&Itemid=350 [in Ukrainian].
4. COVID-19: Impacts to business. Retrieved from: https://www.pwc.com/gx/en/issues/crisis-solutions/covid-19.html [in English].
5. COVID-19 and world trade. Retrieved from: https://www.wto.org/english/tratop_e/covid19_e/covid19_e.htm [in English].
6. Vliyaniye globalizatsii v turizme [The impact of globalization in tourism]. Retrieved from: http://uctopuk.info/article/vliyanie-globalizacii-v-turizme [in Russian].
7. Hlobalizatsiya ekonomiky, zmist ta osnovni formy proyavu [Globalization of the economy, content and main forms of manifestation]. Retrieved from:https://studme.com.ua/195106186880/ekonomika/globalizatsiya_ekonomiki_soderzhanie_osnovnye_formy_proyavleniya.htm [in Ukrainian].
8. Pandemiya COVID-19 sprychynyla rekordne padinnya svitovoyi ekonomiky [The COVID-19 pandemic caused a record downturn in the world economy]. Retrieved from: https://www.ukrinform.ua/rubric-economy/3091815-pandemia-covid19-spricinila-rekordne-padinna-svitovoi-ekonomiki-zmi.html [in Ukrainian].
9. Ofitsiynyy sayt Yevrostatu [Official website of Eurostat]. Retrieved from: https://ec.europa.eu/eurostat [in Ukrainian].
10. The COVID Impact on Business Globalization: What Does the Future Hold? Retrieved from: https://www.europeanbusinessreview.com/the-covid-impact-on-business-globalization-what-does-the-future-hold/ [in English].
11. COVID-19 has changed the business landscape: how will manufacturers adapt? Retrieved from: https://blog.global.fujitsu.com/fgb/2020-08-16/covid-19-has-changed-the-business-landscape-how-willmanufacturers-adapt-2/ [in English].
12. Hlobalʹna kryza vid COVID-19 nasuvayetʹsya. Shcho bude pislya? [The global crisis of COVID-19 is approaching. What will happen next?]. Retrieved from: https://minjust.gov.ua/ [in Ukrainian].
13. Ofitsiynyy sayt DTEK [DTEK’s official website]. Retrieved from: https://minjust.gov.ua/ [in Ukrainian].