The Economic Consequences of Disrupted Global Supply Chains
Given the importance of broken supply relationships in the current downturn, this recession is likely to be unique. To anticipate the recovery therefore requires understanding the COVID-19 pandemic’s effects on global supply chains.
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MUNICH – For nearly three decades, global supply chains were the quiet engines of economic globalization. From 1990 to 2008, they drove the rapid expansion of trade, accounting for 60-70% of its growth. More than a decade later, however, they have stalled – and may in some areas be going into reverse.