Globalization in economy ends: Die Welt

Globalization in economy ends: Die Welt According to the results of the survey conducted by EY Consulting Center among the heads of nearly 2,900 enterprises, almost half of all firms worldwide may replace their suppliers due to the coronavirus pandemic, which in turn will likely lead to the end of globalization, Report informs citing Die Welt.
Business
April 8, 2020 13:56
Globalization in economy ends: Die Welt

According to the results of the survey conducted by EY Consulting Center among the heads of nearly 2,900 enterprises, almost half of all firms worldwide may replace their suppliers due to the coronavirus pandemic, which in turn will likely lead to "the end of globalization," Report informs citing Die Welt.

China-produced masks are an obvious sample of that. Many politicians and economists say that it is needed to take steps to put an end to the dependence of almost the whole world in China.

Enterprises in medicine and industrial fields have reportedly changed their supply network. Thus, globalization will be postponed in the coming years, and consequently, the inflation will go up. 

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