A Road Map to Achieving Free but Secure Trade with Resilient Supply Chains
The tumultuous disruption of global supply chains, first crippled by the pandemic shutdowns and then further disrupted by war in Europe, has accelerated the collapse of the ever-weakening, decades-long consensus for global trade and economic globalization. From pandemic-related lockdowns around the world to US port bottlenecks and rising gasoline and food prices, supply chain challenges have filled headlines and worried businesses, consumers, and public policy officials. “Just-in-time” production over the last 30 years has relied on global supply chains that needed to be reliable, secure, and efficient. The pandemic and the subsequent lockdowns reduced economic activity around the world, idling parts of supply chains that other parts needed to maintain production, undermining the resiliency of supply chains in an interconnected world.
