This webinar was recorded at the Geneva Trade Week 2020
Covid-19 took the world by surprise. As the pandemic spread, trade proved a double edged sword, interlinked global supply chains simultaneously transmitting the economic consequences and proving critical to producing and distributing medical equipment around the world.
As the dust settles, policy-makers, experts and the general public are searching for answers on why some countries suddenly found themselves with critical shortages of medical and protective equipment. Many commentators argue that countries are simply too dependent on foreign production, and supply chains need to be shortened.
This session will discuss the role of global markets during the pandemic – as a source of strength and vulnerability – and the policies that governments can pursue to be better prepared against shocks like Covid-19 without scarifying the benefits of globalization.
In addition, it will discuss the current vulnerabilities of supply chains and provide facts and information to contextualise this discussion.
- What was the role, good and ill, of global markets during the pandemic?
- What does data reveal about the current vulnerabilities of critical supply chains?
- What are concrete policies governments can pursue to strengthen national resilience without undermining competitiveness and innovation?
In the second portion of the session, the floor will open for a moderated audience discussion guided by the question:
Is globalization a threat or an opportunity when dealing with the current pandemic and other future crises?
Anabel Gonzalez, Non-resident Senior Fellow, Peterson Institute for International Economics
Lucian Cernat, Head of Global Regulatory Cooperation and International Procurement Negotiations, European Commission
Oscar Guinea, Senior Economist, ECIPE
Moderated by Ana Swanson, Trade reporter, The New York Times