Recovery from International Trade Crisis

ABSTRACT

Since the beginning of COVID-19, the trade crisis has raised many important questions about whether globalization and international trade are dead. It further raised questions whether the persistent trade deficit is an obstacle to recovery and the persistent trade imbalance nullifies or impairs the benefits of international trade. International trade is a privilege given by sovereign countries. Any trade which deprives people's right to livelihood is against the norms of human rights. Should such types of international trade be discouraged by multilateral trade agreements? This article examines what improvements are required within multilateral trade agreements. This article has been divided into five subchapters (I) Introduction, (II) Impact of COVID-19 on international trade and its legal implications, (III) The new deal to recovery and subject of international trade, (IV) Trade imbalance as an obstacle to recovery, (V) Impact of COVID-19 on globalization, and (VI) Conclusion. © The Editor(s) (if applicable) and The Author(s), under exclusive license to Springer Nature Switzerland AG 2023.