POSLJEDICA COVID KRIZE NA MEĐUNARODNO POSLOVANJE I TRGOVINSKE POLITIKE ZEMALJA
THE CONSEQUENCE OF THE COVID CRISIS ON INTERNATIONAL BUSINESS AND COUNTRIES' TRADE POLICIES

Summary/Abstract: International business, as a key carrier of national competitiveness, refers to any situation in which the production or distribution of goods or services crosses state borders, with the term easily associated with globalization - a shift towards a more interdependent and more integrated global economy that actually creates greater opportunities for international business. Globalization as such can thus take place in market conditions, where trade barriers fall, and customer preferences change. Thus, foreign trade involves a whole range of cross-border exchanges of goods, services or resources between two or more nations. However, foreign trade, regardless of globalization efforts, can disrupt crises, which again require a special macroeconomical framework, that is, trade policy in order to get out of them as painlessly as possible. The economic crisis caused by the Covid-19 corona virus is unique in its economic history so far in terms of manner and speed of occurrence, global coverage and consequences. Undoubtedly, due to the unique way of emergence, mechanisms and profound consequences, this crisis will be a great challenge for economic science and the profession. In this paper we will give an overview of how the COVID-19 crisis has affected international business and trade policies.

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