From Globalism to Isolationism - COVID-19 changed the world in one month

There were already signs concerning the end of globalism, but the last month has finished off the core idea that connection across the globe would made for a better economic world. The new standard is to be disconnected or isolated, and a safe distance from others. Governments are imposing isolation on people, but companies and individuals are changing their perception of engagement. The external force, COVID-19, is the primary cause, but this change in perception is not a trend that will be reversed in weeks. As death tolls rise, the cost of physical engagement rises and the desire for connectedness will further diminish. 

We are not saying that everyone should go about their business when faced with a pandemic, but broader cultural perceptions are bending, work behavior will change, and there will be a further focus on how to protect oneself through not physically engaging with other people. You don't need to shop in person, food can be delivered, meeting and school can be done remotely, and large group activities are discouraged. This may be the greatest cultural adjustment since WWII.  

The greatest impact may not come from the failure of working from home or taking classes on-line, but from the potential success of this experiment. What if people get comfortable with isolation? 

Many businesses have a vested interest in connection and globalism, but that can quickly change. The burden will now be on those who argue for engagement and connections. As much as we can point to cultural resilience after adversity, there have also been key examples of major shifts in thinking that regress or veer into the unexpected. The challenge is not to think about when markets will come back but what is the form an economy will take if there is a new world of isolationism.