While lockdowns imposed across the world in the wake of Covid-19 will be lifted eventually, social distancing, both voluntary and selective, is likely to stay for longer. This already has had — and will continue to have — a significant adverse impact on services transactions that require proximity between buyers and sellers. Trade in services is likely to take longer to recover, with knock-on effects on other sectors of economic activity, and the world could see more regulatory restrictions on services trade on health grounds.
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