Write an article on 'Covid-19 - It's Impact on the global world' in
100 - 120 words. You are Rashmi/Rohan
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Answer:
COVID 19:SUPPLY CHAIN HANGER
RASHMI
As the number of COVID-19 cases in China falls, it is also recovering from the effects on industry.
Companies have been exploring creative ways to restart global supply chains.
More work is needed to ensure long-term resilience.
China seems to be seeing the light at the end of the tunnel of fighting the COVID-19 outbreak domestically. Last week the country reported no new cases of coronavirus for the first time since the outbreak began, and people are returning to work and their daily lives.
Yet there is much more work to be done for companies to resume their normal productions and respond to the economic effects of the crisis.
What is the World Economic Forum doing about the coronavirus outbreak?
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How COVID-19 affected global supply chains
The COVID-19 pandemic has hit the business world in an unprecedented scale and speed. It has caused the closures of business, the stoppage of factory outputs, and the disruption to global manufacturing industries and their supply networks.
Major industries including automotive, electronics, pharmaceuticals, medical equipment and supplies, consumer goods and more have been significantly affected. This is a result of China having become a world production centre over the past two to three decades.
China provides the bulk of the components, raw or processed materials, as well as major subsystems to manufacturers globally. Not only have China’s original equipment manufacturers (OEMs) faced the challenges of resuming their production capacity but also global manufacturers have felt the impact of part shortages in their supply networks.
Companies inside China are slow to resume their normal productions due to various factors. These include the shortage of parts from lower-tier suppliers; the shortage of labour workers who might still be trapped due to the shutdown of their villages and other infected regions; the stringent requirements for companies to establish adequate protective measures and provide an adequate supply of protective gears for employees; and the slow recovery of transportation network capacity due to road closures and other emergency regulations and priorities.
In this fast moving world, many countries compete against each other. Some countries were so jealous that they create viruses to affect other countries. One of them is Covid-19 created to destroy India but it affected their own country, Wuhan. It can affect the whole world and kill many people.
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