Death of Globalization during COVID- 19 Era

COVID-19 plague has accompanied in novel environment of ambiguity which is powering isolationism and playing within nationalist descriptions. Pandemic is threatening Globalization as government disorganize to diminish their weakness to virus by restricting movement of people and global trade. Closure of borders and by taking severe measures against migration results into disturbances in international supply chain along with disadvantageous impacts upon employment. Vital and courageous policy procedures are desired not only for saving the lives of people but also to safeguard the world from economic destructions and also for sustaining the economic development and financial steadiness. This pandemic is not only the health crisis rather it is considered as social, health and economic crisis. COVID-19 which is categorized as pandemic by World Health Organization (WHO) is harming the world at its central. Worldwide economy has been decreased up to 1 % during 2020 because of coronavirus. United Nation stated that worldwide economy will be further goes in decline if limitations upon economic events are prolonged. There is a devastating decline in Foreign Direct Investment (FDI) because of COVID-19. Multinational Enterprises (MNEs), investments and local businesses have been dangerously damaged with profound economic and social consequences. COVID-19 is considered as a threat to economy as well as to public health. COVID-19 which first occurred in Wuhan city and it affects 131,020,967 people all over the world till 5 April 2021 as reported by World Health Organization (WHO). According to novel reports COVID-19 confirmed cases till May 12, 2022 are 516,922,683 as reported by the World Health Organization. Among these 6,259,945 people losses their lives due to this pandemic. The continuing outspread of coronavirus has developed as major threat to financial markets and global economy.