The great unwinding

COVID-19 will fundamentally reshape trade, accelerating the trend towards shortening supply chains. Just-in-time manufacturing using global suppliers will give way to a greater focus on use of regional supply chains, strategic use of inventories and a new approach to viewing risk in the C-suite.

CHALLENGING THE LOCATION OF PRODUCTION

The global economy is highly dependent on China. China's share of global trade in some industries exceeds 50 per cent - in the global trade of telecommunications equipment, for example, China's share (by volume) was 59 per cent in 2018. China's importance in global trade and supply chains has grown ever since it was accepted into the World Trade Organization in 2001.