World Trade Issue and the Effect of Regression of Globalization

Abstract

This article aims to focus on the world trade problems and regression effects of globalization. The objective of this article is to understand the trade problem as well as the globalization effect of the trade war between China and the United States, which has contributed to very high exchange rate volatility in the world economy. Investment has continued to slow down and is against international trade rules such as a ban on the import of goods, a personal travel ban, as well as WTO rules that have been enforced in emergency situations due to violent macroeconomic management. It is also currently facing the  COVID-19 crisis, affecting geopolitical competition, which prevents the United States from being solely empowered. As a result, China has clearly stepped up to become the world's superpower. Therefore, this virus epidemic has caused damage to all sectors in every country. It also reduces the gap between the two giants in terms of competence, resources, and the potential economic slowdown that could lead the world into a real recession.