Supply Chains Must Be Rethought To Ensure Resilience, Prevent Potential Disruptions, Opinion Piece Says
Project Syndicate: Supply Chains and Demand
Richard Haas, president of the Council on Foreign Relations
“…The question of how best to increase supply-chain resilience is now front and center. Future outbreaks of infectious diseases could prove far more disruptive [on supply chains than COVID-19]. … The COVID-19 crisis has revealed that interconnectedness brings benefits as well as risks to us all. In order to address some of these risks, supply chains will need to be rethought, with more emphasis put on supplier diversification, domestic production, and stockpiling. The challenge will be to strike a necessary balance ensuring that a targeted and limited industrial policy does not become a cover for expensive policies that threaten trade and economic growth” (12/10).