War, pandemic drive companies to shift supply chains, WTO chief says

United States News News

War, pandemic drive companies to shift supply chains, WTO chief says
United States Latest News,United States Headlines
  • 📰 washingtonpost
  • ⏱ Reading Time:
  • 20 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 11%
  • Publisher: 72%

The war in Ukraine — coupled with the pandemic’s chronic supply chain snarls — has persuaded manufacturers to cut their reliance on China and spread factories across a wider array of countries, the director general of the World Trade Organization said.

of Ukraine has blocked shipments of grains and fertilizer for two months, sending commodity prices soaring, and has triggered tough U.S. and allied financial sanctions that have isolated Moscow. Hopes of improved supply chain performance this year, meanwhile, were dashed by freshoutbreaks in China, where the government’s zero-covid policy prompted lockdowns in Shanghai and other commercial hubs.

“They’re trying to manage risks, and they want to de-concentrate manufacturing. They’ve seen that manufacturing of certain inputs and outputs are too concentrated,” she told a small group of reporters in Washington.The supply line shake-up — which Okonjo-Iweala bills as “re-globalization” — probably would come at the expense of China. But it could be a boon for some developing countries.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

washingtonpost /  🏆 95. in US

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Russia-Ukraine war live updates: U.S. says Kyiv can win with ‘right support’; world leaders press Putin to end warRussia-Ukraine war live updates: U.S. says Kyiv can win with ‘right support’; world leaders press Putin to end warThe leaders of Turkey and the U.N. will pressure Russia to take tangible steps toward peace during meetings on Tuesday.
Read more »

Biden’s new Uniting for Ukraine program leaves some war refugees stranded at the borderBiden’s new Uniting for Ukraine program leaves some war refugees stranded at the borderThe new Uniting for Ukraine program is meant to streamline the refugee process. But it also prevents Ukrainians already in Mexico from walking across the border.
Read more »

Russia seeks to reduce existing 'serious' risks of nuclear war - LavrovRussia seeks to reduce existing 'serious' risks of nuclear war - LavrovRussia stands for ruling out the threat of nuclear conflicts despite high risks at the moment and wants to reduce all chances of 'artificially' elevating those risks, Foreign Minister Sergei Lavrov said in a television interview aired late on Monday.
Read more »

Don’t Underestimate Threat Of Nuclear War, Russian Foreign Minister WarnsDon’t Underestimate Threat Of Nuclear War, Russian Foreign Minister WarnsBy providing weapons to Ukraine NATO was “pouring oil on the fire,” Russia’s Foreign Minister Sergei Lavrov said in an interview.
Read more »

Russia's war heats up cooking oil prices in global squeezeRussia's war heats up cooking oil prices in global squeezeISTANBUL (AP) — For months, Istanbul restaurant Tarihi Balikca tried to absorb the surging cost of the sunflower oil its cooks use to fry fish, squid and mussels. But in early April, with oil prices nearly four times higher than they were in 2019, the restaurant finally raised its prices .
Read more »



Render Time: 2025-02-23 20:26:45