6533b85dfe1ef96bd12be6c8

RESEARCH PRODUCT

Mobilities and Globalization in the Aftermath of COVID-19

Maximiliano Emanuel KorstanjeBabu George

subject

GovernmentGlobalizationPoliticsPolitical sciencePolitical economyCapital (economics)Foreign direct investmentCapitalismChinaTourism

description

Will COVID-19 kill tourism? This was a big question that came to trouble everyone dependent upon tourism, especially in the early days of it being declared a pandemic. Before it became a pandemic, experts opined that Chinese tourists and tourism businesses would be cut off from it; certain political groups in the US considered this to be a blessing in disguise. Covertly and overtly, many even celebrated how COVID-19 would dent the Chinese economy. Then, it was declared as a global pandemic, and panic ensued. The US and Europe found they no longer had the upper hand over China in containing it; rather, to the surprise of many, the Chinese government proved it could weather a pandemic much better than their capitalist peers. While we write this chapter, tourism to and from China is affected but not so much as in other countries. Also, a significant portion of the reduction in inbound and outbound Chinese tourism could be attributed to the government’s intentional measures to slow it down. The superiority established by China did not stop at this; during 2020, China became the largest recipient of foreign direct investment. Increased inbound mobility of capital to China means a significant power shift. The question is, will this sustain during post-COVID-19? If yes, will capitalism internalize China with an even greater force? These are some of the questions considered in this chapter.

https://doi.org/10.1007/978-3-030-78845-2_6