Geopolitical risk, sanctions, and covid in China are redefining how we think about the future of global supply chains. Nations must start considering how to better secure their supply chains through regional trade partnerships, reshoring essential manufacturing capabilities, and sourcing goods from multiple nations and regions.

A robust semiconductor supply chain without China is out of question, while complimentary China-U.S. cooperation would make the global supply chain both complete and resilient for years to come.

Vietnam and India still have a long way to go to compete with China. Control of the pandemic, selective resumption of production and continued strengthening of its supply chains globally will keep China on top for some time.

The current lockdowns in China have the potential for substantial disruptions of supply chains and business on a global scale.

Globalization is going to continue, but some rules and practices may need to be adjusted. The world should be open to such adjustments but continue to oppose economic nationalism and trade protectionism.

The coronavirus outbreak has shaken global supply chains, causing massive ripples in the international market. It is only to be expected that there will also be major changes to how companies approach supply chain management and practices too.

The old model delivered extraordinary benefits to humanity, but it also created winners and losers. The coronavirus pandemic is a reminder that we must look to the needs of the losers.

The impact of the pandemic on China and other countries will linger long after it ends. It will lead to a dramatic reshaping of the global landscape of supply and industrial chains and the entire order of world trade. The process has already begun.