Description
The Effect of Global Supply Chain Disruptions on International Trade Patterns: A Mixed-Methods Analysis
Abstract
Natural catastrophes as well as geopolitical conflicts moreover the pandemic of COVID-19 exhibit worsening the exposures in global supply chain. The importance of assessing the impact of these shocks on the trade dynamics is underscored by shifts in global trade flows. This study seeks to analyze the impact of disruptions in global supply chains on international trade. The primary objective is to determine their impacts on the volume of trade, supply chain resilience, and possible shifts in trade routes.
The research using a mixed-methods design, where quantitative as well as the qualitative analysis are both used to create the general picture. The quantitative part analyzing trade statistics using econometric models before and after the disruptions of the main global supply chains, measuring import/export volume changes, lead time changes, and trade route changes. For the qualitative section, policymakers and trade experts are interviewing on minimizing disruptions, including reshoring and diversification of suppliers. Disruptions of the global supply chain have a profound effect on global international trade flows. Especially on those industries reliant on intricate networks and just-in-time production. The research suggesting that policymakers as well as businesses are using more reshoring and supplier diversification to create supply chains that are more resistant.
The results suggesting that for the companies to be shock-resistant in the future, they must restructure their supply chain strategy. Business leaders and policymakers able to make strategies for more responsive and adaptable global supply chains. The knowledge of how global supply chain shocks affect international trade patterns, as showing by this particular study. Also suggesting that in a bid to make the global supply chain more shock-resistant. Future trade agreements should focus more on the regionalization moreover diversification, and flexibility.
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