COVID 19 and It’s Impact in Asian Regionalism

COVID 19 is an infectious virus which originated in Wuhan, China at the end of

December 2019. In study the COVID 19 pandemic has a significant effect in global
economies, especially to the countries who can't support themselves thus pandemic
become a largest challenge they need to overcome. It create unprecedented big loses
in many countries in a short period of time. The outbreak of pandemic have a big
changes in health, economic , environmental and social threat. Furthermore economic
integration has been an issue to global market. Due to the health protocol imposed by
the government business and people lives change across the world.
The Covid-19 pandemic has intensified the debate among optimists, pessimists,
and centrists about whether the world economic order is undergoing a fundamental
change. While optimists foresee the continuation of economic globalization after the
pandemic, pessimists expect localization instead of globalization, given the pandemic’s
structural negative consequence on the world economy. By contrast, the centrists
anticipate a “U-shaped” recovery, where Covid-19 will not kill globalization but slow it
down. The three existing perspectives on Covid-19’s impact on the economic
globalization are not without merit, but they do not take sufficient temporal distance from
the ongoing issue( Wang, 2021).

1.1 Global Market

The effects on global market are in wide-range of issue, local and foreign
business, imports and exports, equity, bonds and stocks are the most common
issue during the time of pandemic. Countries in Asia experience more negative
abnormal returns as compared with other countries. It create unprecedented big
loses in many countries in a short period of time and the uncertainty of global
financial markets. Examining the impacts of pandemic in global market will be a
great data and information whether Asian regionalism will have an after effects in
it’s growing development and growth
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