Pandemics as a New Type of Threat to Economic Security in the Context of Globalization

Abstract

In the article, the authors actualize the issues related to the problems of ensuring economic security from the position of growth of global integration processes in the world economy. It is specified that the formation of the global world is connected with the emergence of new global threats in the field of economic security, as exemplified by the coronavirus pandemic COVID-19. This creates the need to review some of the negative effects of globalization in order to provide greater control over global processes, making them more conscious, focused on both comprehensive security and sustainable development of countries. In the course of the research, the authors analyze the consequences for the economic activity of countries as result of the COVID-19 pandemic. The research draws attention to the pandemic-detected breaches in the economic security of countries related to some aspects of globalization. The results of the carried out research allow to identify the sectors most affected by economic pressure and consider possible directions and tendencies of further economic recovery. It is also assumed that in the future stress tests of all levels of economic security will have to take into account and analyze a wider range of possible scenarios and risks associated with the threat of pandemics and the impact of the related effects on the public interest. Prospect for further research in this direction may be the study on the relationship and possible consequences that arise in the social and political spheres in connection with global threats to economic security.

Keywords

• economic security
• globalization
• integration processes
• covid-19 pandemic
• threats
• crisis
• economic losses