The Global Order and Pakistan in the Lens of Pre-Pandemic and Post-Pandemic Scenario

Abstract

The world has faced many crises before, but the recent one is of widened scale with a vast level of destruction. Pakistan, a developing country in South Asia, has also faced the brunt equally with the rest of the world. In this study, we have discussed the impacts of a pandemic on social, economic, and political institutions both globally and domestically. For it, we have compared the data in pre-pandemic and post-pandemic periods. Data has been collected from the irregular period from 2001 to 2021. It is secondary and time-series in nature. The probing has been done by selecting GDP as the dependent variable and balance of trade, health expenditures, oil prices, per capita income, and unemployed labor force as the independent ones. The study results disclosed that all independent variables except oil prices and the unemployed labor force have a significant connotation with GDP. Along with health expenditures, both of them are negatively associated with the dependent variable. The study suggests several policies that, if adopted, would assist in tackling the caused harms and clear the bleak picture of the economy.