In this chapter, we analyze the SARS-CoV-2SARS-CoV-2 pandemic as an example of a global development shockGlobal development shock, focusing on its impact on the economy, spatial inequalities, and EU Cohesion Policy. We present the origins and classification of economic shocks, highlighting their multidimensional nature and diverse socio-economic consequencesSocio-economic consequences. We demonstrate how the pandemic has exposed asymmetries in adaptive capacities between core and peripheral areas. Our analysis is structured around the concept of territorial capital, considering both tangible and intangible resources, such as transport and digital accessibility, human, social, and institutional capital, as well as financial and material assets. We examine how the pandemic has deepened inequalities in access to public services, the labor market, education, and infrastructure, particularly in peripheral areas. We also emphasize the role of EU Pohesion Policy as a tool for mitigating the effects of the pandemic and promoting sustainable regional development. Finally, we highlight the need for more integrated actions that would enhance regional resilience, reduce inequalities, and support spatial integration, preparing regions for future challenges.