De-risking global supply chains : rebalancing to strengthen resilience

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<subTitle>: rebalancing to strengthen resilience</subTitle>
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<dateIssued>2020</dateIssued>
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<abstract displayLabel="Summary">Government responses to the COVID-19 outbreak show that in times of crisis, the spirit of international cooperation can be superseded by actions to cater to domestic needs: in this case, the imperative was to safeguard national supplies of medical equipment and drugs, which also led to the curtailing of trade flows of said products. Further, the lockdowns enforced to curb virus spread had the broader effect of bringing international exchange to a near halt. Those businesses that do survive this year's ensuing global recession are now very aware of the risks inherent in what have become very complex global supply chains.</abstract>
<note type="statement of responsibility">Irina Fan, Thomas Holzheu, Clarence Wong</note>
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