Corona Virus Impact on Globalization


While the United States is still dealing with the response to the COVID-19 Global crisis and the globalization impact is not yet apparent, the long-term effects might be significant. 

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As a response to the coronavirus pandemic, some countries like Germany, France, the Czech Republic, Turkey and Russia has banned the export of protective medical products including masks, gloves and suits. Considering that about 72% of manufacturers of pharmaceutical ingredients supplying the U.S. are overseas, it could result in medical supplies and drug shortages if other countries around the world were to follow suit. The Food and Drug Administration is currently monitoring the potential shortage.

Already government officials, are working an a new Executive Order that would that would reduce American dependency on foreign suppliers for medicine and encourage pharmaceutical and medical supply chains to shift back to the United States. The proposal is already receiving resistance from Big Pharma lobbying group PhRMA against the executive order.

When asked about it White House National Trade Council Director Peter Navvaro told CNBC, “This Big Pharma spin is simply a desperate attempt to stop President Donald J. Trump from moving the production of our essential medicines and medical equipment and supplies to the U.S.”
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The proposal would increase the current Buy American requirements for government agencies and it would require them to buy US made drugs and medical supplies. It would also increase funding for US manufacturing and 3D printing in order to encourage pharmaceutical supply chain company to move back to the USA.

source: 
https://www.cnbc.com/2020/03/15/consumer-companies-call-on-white-house-to-defend-against-supply-chain-disruptions.html
https://www.cnbc.com/2020/03/19/coronavirus-trump-aide-peter-navarro-slams-big-pharma.html
https://www2.deloitte.com/dl/en/pages/legal/articles/covid-19-beschraenkung-ausfuhr-medizinischer-schutzausruestung.html

https://www.natlawreview.com/article/coronavirus-and-trade-us-perspective-what-comes-next

About the author:

Niurka Castaneda is a Veteran, an author,  a student, a mother of 2 wonderful kids, a professional logistician, Realtor, a world traveler, a dog & cat lover...

She is also a Serial Entrepreneur and the Founder of Ventures C & A LLC, the parent company of Amor Umbrella and U Design IT 

Check more about her and about her entrepreneurial mission.

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