U.S. President Joe Biden met with world leaders on Sunday to address the global supply chain disruption and how to reinforce it against any future health crises, or climate change, Reuters reported.
The COVID-19 global pandemic has instigated a series of disruptions in the supply chain sector due to heightened consumer demand and limited supply, fueling an upsurge in inflation rates.
Future Measurements
“We have to take action now, together with our partners in the private sector, to reduce the backlogs that we’re facing. We have to prevent this from happening again in the future,” Biden said, urging world leaders to take serious action to tackle the rapidly escalating climate change, “now that we have seen how vulnerable these lines of global commerce can be, we cannot go back to business as usual. This pandemic won’t be the last global health crisis we face. We also need to increase our resilience in the face of climate change, natural disasters, and even planned attacks.”
Global Collaboration
Representatives of the EU, Australia, Britain, Canada, the Democratic Republic of Congo, Germany, Indonesia, India, Italy, Japan, Mexico, the Netherlands, Republic of Korea, Singapore, and Spain attended the meeting on the sideline of the G20 summit held in Rome.
The countries expressed their willingness to cooperate to build more resilient supply chains by sharing expertise and having multiple suppliers of raw materials, intermediate and finished goods.