“The coronavirus is rapidly spreading around the world, threatening to become a global pandemic. At the time of writing, nearly 95,000 people have been infected across 77 countries, while more than 3,200 people have died. While this human toll is undoubtedly the most tragic cost of the disease, the looming economic costs are also beginning to draw attention from policymakers, companies, and investors.
Decades of deep economic integration have restructured international trade and investment. In modern global value chains, production processes are often spread across dozens of firms operating in multiple countries.
Because of the network complexity in global supply chains, it may only become clear just how central a particular export hub is upon its sudden failure.”
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