Now, the urgency is obviously to resolve the Covid-19 crisis. Later, nevertheless, it will also be essential to think about what shall happen next. Life will resume after the crisis, but we shall not be immune to more crises in the future. We are in a world of disruptions, such as natural disasters and pandemics. After Covid-19, business cannot resume as usual.
The current world economic model is operating on two principles: globalization and just-in-time. This paradigm has enabled a substantial reduction in production costs. It led to the development of many countries, particularly in Asia, which have become the workshops of the world. While the effectiveness of such a system has been proven, we now realize that it is also very vulnerable.