COVID-19 and International Trade: Issues and Actions

International Business
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International Business
The article “COVID-19 and International Trade: Issues and Actions” by the Organization for Economic Cooperation and Development (OECD) asserts that “In an unprecedented global health crisis, trade is essential to save lives and livelihoods; and international cooperation is needed to keep trade flowing” (OECD, 2020). I fully concur with this statement since trade is the backbone of the economy. Without trade, many people would lose their lives and livelihoods since they have no income, which means they lack necessities, such as shelter, clothing, and food. A global health crisis, such as that of COVID-19, has made it clear that global citizens need trade for survival. For example, due to international flight restrictions by different governments, business operations of many companies went to a halt for a short period to prevent the spread of coronavirus. However, during that moment, some people lost their livelihoods and others went without food since they were given temporary leave and others were fired.
OECD makes it clear that an international health crisis can lead to hunger, death, homelessness, and poverty. Specifically, man...