As the world has hit pandemic and all travel routes including trade routes are in a never seen before problematic situation, the new norm is going to be Make where you sell. Yes there are countries which are heavily dependent on trade routes such as Europe and America which are mainly import economies as also economies in Asia which are mainly export economies it has affected World trade in a manner never seen before. Even though America and Europe are more dependent on Asian economies, Asian economies are less dependent on America and China than they are on each other.
As far as supply chain goes, they are always shifting and changing. Whether it is the coronavirus stricken world or not, It keeps changing and happens change globally throughout the world. However with the corona virus situation the World will be forced to look at interior regions of the world for trade routes.
Make where you sell seems to be the new norm where countries are expecting the companies to make in their own country where they want to sell. As supply chains are disrupted it becomes clearer that now companies are going to look into more local markets to sell their products than in the international markets as the supply chains are completely disrupted and they are fearful of another pandemic.
Since we have to now rely on local markets more than global, we now need to create industries and strengthen the private as well as manufacturing sectors in our home countries. With The trade war already looming, the indo- china dispute etc. it is best to provide impetus to home industries to mitigate the risks of post pandemic era, recession or trade wars.
As far as supply chain goes, they are always shifting and changing. Whether it is the coronavirus stricken world or not, It keeps changing and happens change globally throughout the world. However with the corona virus situation the World will be forced to look at interior regions of the world for trade routes.
Make where you sell seems to be the new norm where countries are expecting the companies to make in their own country where they want to sell. As supply chains are disrupted it becomes clearer that now companies are going to look into more local markets to sell their products than in the international markets as the supply chains are completely disrupted and they are fearful of another pandemic.
Since we have to now rely on local markets more than global, we now need to create industries and strengthen the private as well as manufacturing sectors in our home countries. With The trade war already looming, the indo- china dispute etc. it is best to provide impetus to home industries to mitigate the risks of post pandemic era, recession or trade wars.
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