Following a year of coronavirus-related disruptions, China appears to be placing a greater focus on sustainable, digital and health-related projects in its flagship Belt and Road Initiative (BRI).
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The global automotive industry took a significant hit last year on the back of a Covid-19-related slump in activity. However, a more positive global outlook is set to boost demand, boding well for automotive manufacturers in emerging markets.
Economic update | The Covid-19 vaccine rollout: which emerging economies are leading the way?
20 Jan 2021
A growing number of countries around the world are launching Covid-19 vaccine programmes, generating optimism that there is a light at the end of the pandemic tunnel. However, while some developing economies are successfully moving forwards with their own programmes, others have expressed concern about an emerging global imbalance in distribution.
With travel restrictions, closed factories and social distancing measures in place for much of the year, 2020 was particularly challenging for industrial companies around the world. However, despite such constraints many countries were able to successfully repurpose production to meet urgent needs associated with Covid-19, while others look set to benefit from shifting trends in global supply chains.
– Global supply chains severely disrupted by Covid-19
– Multinationals turn to China +1 and nearshoring
– Worldwide increase in regionalisation and localisation
– Major regional trade deals signed or accelerated
– Economies in the region were hit by reduced trade volumes and lower oil prices
– Governments launched extensive stimulus packages to stabilise their economies
– Short-term recovery will be tied to oil prices and the resumption of travel
– The pandemic looks set to accelerate economic diversification efforts