The impact of coronavirus on global supply chains

Abstract

Currently, the coronavirus epidemic has adversely affected various economic sectors and spheres. This is a definite challenge both for the economies of individual countries and for international trade relations as a whole. This article deals with global supply chains disruption due to the coronavirus pandemic, assesses the impact and problems associated with the failure of production and trade processes and defines the associated economic risks. Besides, the consequences of disrupted global supply chains and measures that should be taken to minimize and mitigate them, and what companies need to do to catch up on production, are considered. The role of the government under the crisis is examined.