Emerging Economies Have a New Imperative
The COVID-19 pandemic has forced companies and governments around the world to reconsider long-held assumptions about economic-development strategies. Nowhere is this reckoning more urgent than in export-oriented emerging economies, which now must focus on supply-chain resilience on top of everything else.
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SHANGHAI – For the last 25 years, revolutions in communication and transportation technologies have allowed companies to create truly global value chains. Those processing raw materials were linked up with manufacturers of inputs and parts, which were in turn linked to the companies that assemble and package final products, and then to distribution channels extending to consumers around the world.