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COVID-19 may accelerate shift in global trade relations, supply chains: Moody's

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NEW DELHI : Moody's Investors Service on Tuesday said the coronavirus pandemic is likely to accelerate fundamental shifts in trade relationships and global supply chains.According to Moody's the trend toward a more fragmented and protectionist global economy will likely accelerate as a result of the pandemic, with restrictions on trade, investment and technology transfers."The pandemic will likely result in some fundamental shifts in trade relationships and supply chains globally, further hardening attitudes against globalization," it said and noted that the supply chain shifts will occur in a multi-year process, particularly as China will retain a number of advantages over other economies.Some Asian markets excluding China will benefit.

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The economy is recovering, says President during meeting with professionals
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