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When it was hard buying masks or a bottle of 75% alcohol disinfectant just as much as booking a haircut appointment when your hair dresser was stuck in Taiwan over the past two months during the growing coronavirus epidemic in China, what has gone missing, supply or demand? And as WHO characterized the widespread of Covid-19 as a global pandemic and suggested countries to adopt measure that would restrict migration and commerce, how resilient is the global supply chain, when Made-in-China engines the industrial PMI of the world, and in return the rest of the world empowers the continuous Chinese export growth?
The answer to the first question is neither, while the answer to the second question is no matter how the Chinese governments at all levels have gone through a formidable course to bring the world factory back to running. When the China-based supply chain of lots of the world's industrial manufacturing businesses broke down, pressure is on China and the foreign businesses investing here. Over the past month, AmCham China, working very closely with a dozen of Chinese central government agencies and manufacturing base provinces such as Hubei, Tianjin, Shandong, Liaoning, Guangdong and Heilongjiang, has been helping member companies resume work to produce the most urgently needed epidemic control supplies and critical components that keep the world's cars moving, infrastructures being built, data flowing, etc. Now, however, as the world's stock markets all shuttered, indicating perhaps one of the worst and yet unpredictable slowdowns of the world economy since 1997, who would China sell to? How would procurement management structure their supply networks, and industrial company executives make investment decisions to reduce supply chain vulnerability, keep employment and maintain competitive pricing? And further more, for a globalized economy at challenge and the government, what does this mean in terms of not planning regional investment promotion and industrial policies by putting all eggs in one basket?
We invite you to join a webinar with members from our Board of Governors that represent high-tech, machinery, and sourcing manufacturing sectors and Bain & Company to hear their experiences, practical learning and cross-sector views on how to navigate through the supply chain challenges due to the increasingly worsening Covid-19 pandemic.