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Professor Richard Vietor speaks at the Democratic Alliance on Digital Governance Conference

On July 1, 2020, at Democratic Alliance on Digital Governance conference, organized by the Boston Global Forum, Professor Richard Vietor, Harvard Business School presented “Global Economic Effects of COVID-19 Pandemic” at the section “New Supply Chain, New Economy, New Democracy”.

Some thoughts on Global Supply-chains

  • Supply chain disruption not new – Japanese tsunami (2011), global financial crisis (2008-09);
  • Either demand or supply shocks;
  • Pandemic presents countries with both demand and supply shocks;
  • Hits major global economic centers almost simultaneously;
  • Tradeoff is one of static efficiency; just-in-time production, hyper-specialization, minimizing inventories…
  • S. – China trade war has significantly exacerbated re-shoring or diversification
  • Part of recent de-globalization

The presentation can be found here.