Global versus local: Th e future of trade and the economy after Covid-19
The speed at which the Coronavirus spread around the world also highlighted the potential vulnerability of some industries when borders are closed and supply chains are not ensured. The pandemic halted global trade. Therefore, it stresstested the capacity of countries to build internal supply chains (i.e. the rapid development of national businesses with solid technological and manufacturing bases). The capacity of supply chains to distribute goods and services was also under pressure, where the minimum stock level strategy materialised into a strong weakness. This means that trade players will be in the need of a 360 degree view of the robustness of their partners – both suppliers and buyers.
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