Coronavirus cripples Global Supply Chain
The aftereffects of the coronavirus epidemic are becoming more and more evident with every passing day. The supply chain industry is one of the worst affected sectors. We present you with the specifics of how big the impact is. Expected GDP drop Chinese is one of the biggest production hubs in the world. China’s sheer prowess in the manufacturing and supply chain can be estimated from the fact that the Asian nation alone contributed 39% in the global GDP of 2019. Impact on Global Supply Chain Recently in an interview with FreightWaves, economist Paul Bingham, director of transportation consulting at IHS Markit talked about the ongoing and potential effects of the virus that is slowly traveling around the globe. On being asked about the state of supply chain managers in the region and the impact of the shutdown, Paul says, “What’s happening is that the gap you managed against is now extended. If these factories don’t restart or if they...