"International trade after the corona-crisis- Business as Usual or Systemic Change?"

The economic impact of the corona pandemic is considerable... Broken supply chains, ...but also the fast global spread of the virus itself, make many people associate the pandemic with globalization. Therefore, it is not surprising that globalization and international trade have come once again under heavy criticism in public opinion...

Concrete policy recommendations: ...

2. Making value chains fair and robust

In rebuilding more resilient supply chains, companies need to ensure that labour rights are guaranteed throughout the supply chain, that there is job stability to allow proper planning and that orders are paid on time. Outsourcing economic risks at any price is not compatible with global responsibility. There is a clear need for a level playing field. And the level playing field in the internal market also calls for a uniform EU approach. We need a binding supply chain law that ensures the sustainability and crisis resistance of the value creation process. It should oblige companies to carefully examine their human rights´ and environmental risks and their susceptibility to crises and to take appropriate measures to prevent and mitigate such risks. Unfair trading practices must also become easier to control and eliminate...

Read the paper in German here.