Ancillary 6

The idea that the epidemic is the end of globalization is too absolute. It is true that issues such as vaccines, border closures have slowed down globalization in a short period of time. But given the nature of globalization, which is pursuing economic benefits, these situations are temporary and possible to solve. In other words, globalization has focused on maximizing economic benefits over the past few decades, though the epidemic has caused governments around the world to think and measure risks, the essence of globalization has not changed. Richard Fontaine, the chief executive officer of the Center for a New American Security, discussed in his article “Globalization Will Look Very Different After the Coronavirus Pandemic”, “The new watchword is likely to be risk reduction rather than cost reduction”. To clarify, “risk reduction” here refers to decreasing risk for promising the security of country development. Here Richard explains that considering national interest and the further development of the country, the security of the country needs to be considered more than the economic cost. The focus of future globalization will be more on reducing risks rather than reducing costs. However, it should not be surprising that economic benefit is still one of the most important factors for courtiers and companies to consider. When the risk of security is under control, related countries and companies will still pursue lower costs and larger benefits, which is the main power and goal of globalization.