ABSTRACT
The Coronavirus disease (Covid-19) pandemic has had a devastating human toll in many parts of the world where it has killed thousands of people. It has also brought the world economy into a depression with serious adverse effects on trade worse than the global financial crisis. The economic contraction in China was smaller than the global average as the country managed to control the outbreak relatively quickly and reopened its economy. The effects of the virus were transmitted through global supply chains. International trade is the exchange of goods and services across national boundaries. It is the most traditional form of international business activity and has played a major role in shaping world history. International trade allows manufacturers and distributors to seek out products and services produced in foreign countries. Foreign direct investment contributes to capital formation and helps promote the development and export of knowledge-based industries.
