What is Pandemic

The text analyzes the changes in the process of globalization which have occurred in connection with the spread of COVID-19 and determines the possibilities for further development. It is based on the definition of globalization according to the OECD. Several years before the pandemic came, and globalization entered a phase of slowdown. It was called deglobalization. The main facts that caused this process were financial recession in 2008 and changes in USA and China economic relationship. The pandemic has weakened economic growth in many countries, reduced trade and travel, and introduced restrictive measures. The effects of a pandemic for individual states depend on the extent to which the states are connected in global production and trade networks. Three scenarios and their impact on globalization, trade, and the world economy are introduced.