Globalization at A Crossroads
The author is president of the China Institute for Reform and Development
The novel coronavirus outbreak has brought severe shocks to global supply and industrial chains. The longer the pandemic lasts, the bigger the impact will be. Some supply chains could possibly break down. Being the powerhouse of global manufacturing, the accelerating production resumption in China is conducive to the development of the global manufacturing industry. However, as the coronavirus spreads around the world, some manufacturing enterprises in the U.S. and Europe may well have to shut down, which will drag down the global economy in general. Some experts
