Sure, globalization is great when it comes to business/economic integration, and manufacturing, but when it comes to infectious viruses, this is where globalization falls down a nasty hole, inflicting untold damage.
We all know the process of change must first go through a process of destruction, constructive destruction, much like an omelette, first you have to break some eggs.
If the developed nations wanted to preserve their taxpayers, they would halt all international flights immediately apart from truly necessary freight. The respective governments should shut down all schools immediately and secure all borders with troops, they should also require every citizen to wear N95 masks, or gas masks, including the covering of the eyes with protective goggles. The military should be deployed in all neighbourhoods, and most citizens should be told to stay at home.
All trading on stock markets should cease, and a state of national emergency brought forward before the number of infected people increases.
Unfortunately, as of now, international/national flights are still continuing spreading the virus far and wide infecting people at an exponential rate. The fatal COVID-19 mutated strain is known now to be a deadly killer of a virus, it is constantly downplayed by those in the public eye and ministers, even though it not only attacks the respiratory system but the neurological system as well.
The virus is being allowed to take hold, all in the name of economics, and with every failed action to safeguard the developed nations, in turn, the stock markets fall further. If the ministers were to take decisive action right now before people start passing out and dying in the streets, then the markets would rise, simply because it would be seen that something was being done.
Within the developed nations, the only way any action is to be done right now is for a person within parliament or congress, or the senate to fall ill with COVID-19 and die, otherwise, as the general populace are getting infected daily, nothing of any note will be done.
Globalisation is a great economic miracle yet a huge curse when it comes to the interconnected nature of its operation, it is a double-edged sword, and the developed nations must think of a new way of global integration for the future, where all zones have their own localised food distribution, localised manufacturing and business, yet be linked globally as well to an extent to other zones, but can survive sustainably and independently of each other when needed.