The pandemic has interrupted supply chains with quarantines, protectionism and container ship chaos. This has caused many businesses to rethink their supply chains.
Coinciding with a decline of the global merchandise export-to-GDP ratio, does this mean the end of globalisation as we know it?
In the final event of our four-part series, ‘From crisis to opportunity: what’s the future of trade?’ we asked a panel of experts whether recent examples of refigured supply chains and the relocation of manufacturing hubs represents de-globalisation.
This is both a time of uncertainty, but also opportunity. How we redefine trade is the answer to the ‘trillion-dollar’ question.
Introduced by Andreas Tesch, Atradius CMO, and moderated by journalist, Daisy McAndrew, the panel consisted of:
- Dr Linda Yueh - Leading economist on global trends, Fellow in Economics, St Edmund Hall, Oxford University and Adjunct Professor of Economics, London Business School
- Valter Viero - Assistant Financial Director, Acciaierie Valbruna SpA
- Bart Jan Koopman - Director of evofenedex, the Dutch trade association
- Eric den Boogert - Managing Director Asia, Atradius
Although businesses currently choose where and how to trade, future global supply chains maybe partly dictated by policymakers. This may be seen in geopolitical moves, but also in government-protected supply chain resilience for critical sectors and environmental considerations such as carbon taxes. At the moment, key issues driving decisions concerning reshoring, nearshoring or multishoring include cost, customer relationships and environment.