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Ripple Effects of COVID-19’s Impact on Global Trade

The Coronavirus disease (COVID-19) outbreak in China that occurred nearly two years ago soon catapulted into a global health crisis that led to severe economic shocks almost all over the world. According to estimates published by UNCTAD, in March 2020, the slowdown of manufacturing in China due to the Coronavirus is disrupting world trade and could result in a $50 billion decrease in exports across global value chains.