Contemporary trends in global business development and Georgia’s opportunities to mitigate the Covid-19 Pandemic crisis (გლობალური ბიზნესის განვითარების თანამედროვე ტენდენციები და საქართველოს შესაძლებლობები Covid-19 პანდემიის კრიზისის შესამცირებლად)

Abstract

The new coronavirus (COVID 19) pandemic in the world has changed the trend of world economic development and the legal order. The negative shock caused by the coronavirus has affected the economies of highly developed countries – the United States, the European Union, Japan, China, South Korea, India and other countries. According to actual data, the COVID-19 pandemic has had a devastating impact on the world economy and global business, although the degree and extent of the impact of the pandemic is still unknown due to the lack of comprehensive information. Even today, humanity is struggling with the ongoing processes of the pandemic. The COVID-19 pandemic is a historic and unprecedented event for the world in terms of the development of a global crisis. The COVID-19 pandemic has severely damaged the world economy and global business, including Georgia's trade partner countries, such as the European Union, Azerbaijan, Turkey, China, Russia, Ukraine, etc. The economic crisis and damage caused by the COVID-19 pandemic (to date, the amount of damage and costs are unestimated), both in the global economy and in Georgia, have caused a sharp slowdown in economic activity and minimized the positive results of recent years. The global pandemic of COVID-19 has clearly shown us that the modern world is closely interconnected and integrated, indicating that the problems in the world require global solutions and effective management.