The US-China trade war and COVID-19 pandemic are set to trigger major restructuring of global supply chains, including relocation of production to cut concentration risk, shortening of supply chains and/or building of parallel ones. This will likely give rise to new demand for property, engineering and business interruption insurance in those markets that become new host locations.
The US-trade trade war and COVID-19 pandemic will lead to major restructuring of global supply chains.
Governments and manufacturers are reassessing future arrangements for production to reduce vulnerabilities.
Restructuring will take the form of relocation and diversification of production bases, shortening and building of parallel supply chains.
The changes will give rise to new demand for property, engineering, business interruption and credit & surety insurance, among others.
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