COVID-19 PANDEMİSİNİN KÜRESEL TİCARETE İLK ETKİLERİ
THE EARLY IMPACTS OF THE COVID-19 PANDEMIC ON THE GLOBAL TRADE

Summary/Abstract: In the last days of 2019, after the increase in the number of people affected by flu-like illness in Wuhan city of Hubei province of China, Wuhan city was completely closed, people were banned from going out to the streets due to panic and fear, and production was stopped in factories in the industrial city, and flights were canceled. Since China, which has become the production center of the world, is the world's second largest economy and leading trade country, the stagnation that occurred in the production lines due to the epidemic was felt all over the world. The possibility that assembly lines in Asia, Europe and the United States will stop due to lack of supply has raised concerns if factories in China are closed longer than expected due to the pandemic. After the epidemic, the players of global trade deeply felt the risks of being dependent on a single country for supply. In this study, the economic weight of China, the country where the epidemic emerged and spread, and the initial effects of the epidemic on the global economy at the peak of the epidemic were investigated by reviewing the secondary data obtained from various industry reports and scientific research. In addition to the fact that the world is highly dependent on Chinese supply chains, it has been revealed that the impact of the epidemic in the global economy in the service sectors such as transportation and tourism was seen very early, but its effects in the industrial sector will not be seen in the short term thanks to the stocks in hand.

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