COVID-19 is about to put the global trading system through its most dramatic stress-test since World War II, with supply lines for essential food and medical goods entering a critical phase as the pandemic peaks in the U.S. and Europe.
The coronavirus pandemic is just the latest of an endless series of crises to hit companies around the world. And, like so many previous ones, it has exposed a serious lack of preparation by business leaders and supply chains.
The coronavirus pandemic has brought chaos to supplier-buyer relations the world round, resulting in widescale invoking of the contract-breaking clause known as force majeure.
Even as Asia slowly reopens after its lockdown, factories there risk running short on supplies as the virus spreads to countries that produce vital raw materials.