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COVID-19 irreversible globalization

The sudden emergence of the new crown pneumonia epidemic has pressed the pause button for most industries in the world, unable to supply, and lack of demand, making some enterprises unable to operate normally. Governments of various countries have adopted relevant policies to help companies avoid bankruptcy, but they are not enough to provide business expansion . The impact on the global supply chain during the new crown pneumonia epidemic exposed the risk that most companies are too dependent on one or two major supply sources. The epidemic will prompt some companies to re-evaluate their supply chains, or to establish more flexible supply chains to find more suppliers for the same products, in order to reduce the losses caused to enterprises during emergencies. However, the global supply chain is a complex system, and its formation and change are a long-term process. Today's global supply chain is difficult to be overturned by an epidemic. The situation of the global decentralization of the supply chain cannot be completely reversed, and multinational companies are unwilling and difficult to abandon the current global supply chain to rebuild a new and completed supply chain.

Epidemic cannot reverse globalization

The epidemic may originate anywhere in the world, and the closed country cannot stop the epidemic and any other global threats. In response to the epidemic, the isolation capability of each country is important, but it is more important to share information and resources globally and jointly develop new drugs and vaccines, because in a highly connected world system, the ability to resist system risks must be enhanced across the system The capacity depends on the "shortest board on the barrel". The epidemic poses a serious threat to the world economy and human health. What is urgently needed is the willingness and action to cooperate.

Economic globalization is not a panacea. It alone cannot solve all the problems of the world economy. Globalization is not a free lunch, it will increase our well-being, and sometimes pay for it. But it is almost certain that opposing globalization is a danger to self-growth, and policies such as "building walls" will only make the country's economic situation worse in the long run because it will reduce production efficiency. As former UN Secretary General Annan said, in today's unequal world, the biggest losers are not those who face too much pressure from globalization, but those who have been abandoned by globalization. At the current epidemic, we do not shy away from the cost of globalization, which will prompt people to better think about how to make up for the deficiencies of globalization. As a responsibility, governments should build a "safety net" for people and work hard to coordinate various interests in the process of globalization, rather than oppose or limit globalization.

In the face of the epidemic, Shenzhen YEAHUI ELECTRONIC LIMITED. has adopted a positive attitude, looking for the dawn of the huge crisis, and in the face of difficulties, we will face the difficulties.

In the face of coronavirus, many companies have stopped working. But even if the work is stopped, we need to prepare for resumption of work. It is necessary to contact our suppliers in advance. Yeahui is a connector supplier with 11 years of experience in developing high quality connectors and wiring harnesses. wo have many types of products, including obd connector, circular connector, agricultural connector and so on.We can meet the requirements of various customers. Feel free to learn more about connectors or buy our connectors,looking forward to your message.

Read more about the Coronavirus(About the Coronavirus COVID-19).