OECD chief economist: Virus puts globalised economy at risk


France’s Sanofi said its plan to create a standalone company to make key ingredients for other drugmakers will help ensure supplies of essential components and reduce reliance on Asia.

PARIS: The upheaval from the coronavirus outbreak may be the final jolt that the world’s biggest companies need to reevaluate how they operate in a globalised economy, the OECD’s chief economist Laurence Boone said.

The sprawling, continent-crossing supply chains of corporations have already come under pressure from trade tensions and climate concerns, and may face further stress as countries change global taxation rules. If and when the dust settles from the coronavirus, Boone said firms will likely pause to reconsider what they do.

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