This year, shipping rates, a key indicator of supply chain fluidity, finally collapsed 80% from their peak in early 2022 to pre-pandemic levels as the industry irons out its kinks. Nonetheless, industry players are not banking on a smooth-sailing ride for the rest of their voyage. Instead, businesses are continuing to reconfigure their supply chains to deal with economic and political challenges.
The pandemic has forced businesses to reconfigure their supply chains, leading to changes in FDI trends and trade flows
On May 5, the World Health Organization declared that Covid-19 was no longer a global health emergency. Still, the economic impact of the pandemic remains. Supply chains, which linked most of the pre-pandemic world through an intricate web of trade flows, were severely disrupted, triggering spikes in energy and commodity prices as production and transportation costs surged.
