Yichuan Cao/Sipa USA via AP Images
Container ships in the Port of Oakland, California, March 9, 2020
On March 17, the Prospect and the American Economic Liberties Project held a virtual event on the coronavirus and the global supply chain structure. In addition to causing a sudden stop in economic demand and the serious threat to the health of millions, the crisis has exposed cracks in how we make and distribute medicine and other key goods. We have centralized supply in corners of the globe, in particular China; we are dependent on Chinese production for everything from batteries to active pharmaceutical ingredients, from parts for advanced drones and missiles to bibles. The shutdown of production and trade as a result of the coronavirus crisis reveals a critical dependency that makes our system of commerce fragile and prone to shocks.
Prospect executive editor David Dayen moderated an hourlong discussion on this topic, featuring: Congressman Mark Pocan (D-WI); American Economic Liberties Project executive director Sarah Miller and senior fellow Lucas Kunce; and Rush Doshi, director of the China Strategy Initiative at the Brookings Institution.
The video is below.
