Mikheil Ukleba and Zaal Margvelashvili – Coronavirus Pandemic and Its Impact on the World Economy

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Authors: Mikheil Ukleba and Zaal Margvelashvili, Research Fellows at the Levan Mikeladze Diplomatic Training and Research Institute of the Ministry of Foreign Affairs of Georgia

April 2020

The novel coronavirus, which emerged in the Chinese city of Wuhan in December 2019, and the pandemic caused by its global spread, significantly changed the international policy agenda in the coming months, and the fight against this pandemic has become one of the primary tasks of the whole world, including leading countries. Among other factors, this is due to the fact that the novel coronavirus is a life-threatening disease for humans that spreads easily and poses an existential threat to vulnerable groups of people, such as the elderly and people with concomitant severe chronic diseases. However, no group is immune to this disease and its severe consequences. It is noteworthy that there are no means of preventing and treating the novel coronavirus yet, and scientists need some time to develop it.
The coronavirus pandemic does not recognize boundaries and spreads to almost every part of the world. Its importance and impact are confirmed by research, assessments and measures taken by international organizations and leading countries of the world. The fact that repeated cases of infection with the virus are already taking place, also causes danger, and as a result, a second wave of the coronavirus pandemic may spread.
The coronavirus pandemic, despite its global spread, has not yet caused any noticeable geopolitical changes, although it has dramatically intensified existing international relations and gave them new dynamics. It also led to numerous human sacrifices and prompted the entire world to devote significant financial and intellectual resources to overcome it. The coronavirus pandemic also required unprecedented public mobilization, government restrictions, and more active interaction between states and international organizations.

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