For businesses that obtain their parts and materials from different corners of the globe; frozen or hampered global supply chains are a real issue. However, supply is only part of the equation. Rising unemployment and social isolation measures are also significantly curbing demand. Even Apple is cutting retail costs to boost sales.
However, in spite of the doom and gloom, there is light on the horizon. While, according to Goldman Sachs, the US will see a 24% contraction in GDP over Q2; this is predicted to be followed by 12% and 10% growth in Q3 and Q4 respectively. When we do emerge on the other side, the world will be a very different place.
Here at RooLife Group, we see the coming months as the great opportunity to prepare your business for the new world. Naturally, this week, we look again to China for insight into their supply chains and explore what the future might hold. We hope you enjoy this week’s article.