The coronavirus pandemic effects on intrrnational trade.docx The coronavirus pandemic h

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The coronavirus pandemic effects on intrrnational trade.docx The coronavirus pandemic has become a world-shattering catastrophe. One that we cannot imagine what its far-reaching effects will be. ... I believe this crisis has caused Americans to lose faith in globalization and international trade. We have already seen and were shocked to see the instant breakdown of the world™s economic system. It has been apparent that our global supply chain and distribution networks are incredibly vulnerable to disruption. I believe we are going to see a significant change. Globalization permitted organizations to outsource manufacturing globally and deliver products on what is called a just-in-time basis. Just-in-time omitted the space and costs of warehouses. The belief was that if inventory remained on a shelf for more than a couple days, it was deemed a market failure. Supplies were obtained and shipped on a precisely planned global level. COVID-49 has destroyed the just-in-time system. I feel that supply chains will be brought closer home and loaded with redundancies to ensure that there are not any future disruptions. Yes, this will cut profits, but it will be a small price to pay for making the entire system resilient. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . .. .. . . . . . . . . . . . . . . . . . .. . . . . [Show More]

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