Impact of COVID-19 on Global Supply Chains

In the wake of the COVID-19 pandemic, numerous economists have studied its impact on global supply chains. One notable research paper noted that

disruptions caused by lockdowns resulted in delays in manufacturing, leading to shortages of essential goods. Moreover, the paper highlighted that smaller, localized suppliers were particularly vulnerable as they often lack the financial resources to weather prolonged disruptions.

Ultimately, the researchers suggested that diversifying supply sources could mitigate future risks, enabling economies to become more resilient. They also recommended increased government support for these smaller suppliers to ensure they could compete alongside larger corporations.