Part 8/10:
As global interdependence grows, the degree to which countries rely on one another makes economic resilience paramount. The COVID-19 pandemic exposed vulnerabilities in supply chains, as seen with baby formula and vital medical supplies. The reliance on foreign manufacturing for crucial products highlighted the need for a balanced approach that encourages domestic production while capitalizing on international partnerships.
In strategically reevaluating trade policies, there is a compelling case for assessing where redundancies and local manufacturing can help enhance resilience. The trade-off between efficiency through global sourcing and the need for a robust domestic production framework must be rigorously explored.