66956 – The COVID-19 Pandemic has highlighted the interdependence

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The COVID-19 Pandemic has highlighted the interdependence between countries and economies. While it is clear that it is having and may continue to have a significant economic impact on many (if not all) countries, it is arguable that small open economies are more vulnerable to external shocks such as this than larger more closed economiesIn the context of this sudden, unexpected, external shock:(a) Set out the nature of the interdependence of economies and their inter-relationships(b) Discuss the impact of global linkages on the performance of a small economy such as Ireland (or any other small open economy)

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