Redrawing the Map of Global Trade
The pandemic and geopolitical tensions will redraw global trade corridors, forcing companies to rethink product mix and supply chain footprints even after volumes recover.
Summary
The authors project that global trade will fall by about 20% in 2020 and not regain its 2019 level of $18 trillion until 2023 in a baseline scenario. More importantly, the pandemic destabilizes economies, intensifies geopolitical frictions and exposes risks in global manufacturing networks, so the map of trade will change. Using maps of trade corridors before and after the crisis, they show likely shifts. Companies will need to revise product
Editor's opinion
The pandemic and geopolitical tensions will redraw global trade corridors, forcing companies to rethink product mix and supply chain footprints even after volumes recover.
Key concepts
Global trade corridors · Supply chain redesign · Geopolitical friction