Global Supply Chains 1. The COVID 19 pandemic has disrupted the supply chains and countries are dependent on other countries for items of basic necessities including pharmaceuticals. 2. So, the nations should build supply chains inside the country. Where does it make an impact? 1. China has monopolized the world trade as more than 9 lakh companies are operating in China. So, during the pandemic i. The supply disrupted as manufacturing process stopped in China. ii. This has led to shortage of medicines, manufacturing, Infrastructure etc. across the world. 2. Every country would now move towards the protectionism, atleast in essential commodities like medicines, infrastructure etc. 3. As per WTO, global trade for 2020 will see a downfall ranging from 13% - 32%. 4. IMF has forecasted 3% economic slowdown that will surely jeopardize economic activities of many countries. 5. Idea of realigning towards self-sufficiency would be prioritized by the g...
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