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Three ways to fix global trade and drive economic recovery
Sultan Ahmed bin Sulayem | 20/05/2022
External pressures and shocks have exposed the fragility of international supply chains, meaning it is now clearer than ever that we need to reshape supply chains to manage future shockwaves and protect global trade.
It doesn’t help that many of the world’s supply chains continue to be disrupted. While a lot of repair work was underway, war, sanctions, and a new round of COVID-19 lockdowns in China have delivered more setbacks. The result is much more than the inconvenience of longer waiting times for a new car or home appliance. We are facing the genuine prospect that the economic setback will continue to have the most impact on the most vulnerable societies.
This development is especially disappointing given that trade and business optimism had grown around the world as economies were showing resilience in the face of the pandemic. Our Trade in Transition report, produced in partnership with Economist Impact, shows that more than two-thirds of business leaders saw exports grow by up to 50% between 2020 and 2021.