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The Covid-19 pandemic and the war in Ukraine have disrupted world trade. Supply chains have been severely disrupted by the massive lockdowns put in place in China. Because of the conflict in Ukraine, part of the world is deprived of its agricultural supplies. The surge in wheat prices, of which 30% of world exports come from Ukraine and Russia, raises fears of a serious food crisis in the most vulnerable countries.
Could the master of the Kremlin use the food weapon to influence the diplomatic scene? Should Western countries reorganize their production chains so that they no longer depend only on friendly countries? Will international trade return to a block logic as during the Cold War? Should we put a stop to the globalization of the economy to reduce dependencies?
These are some of the questions that we are going to try to answer, today, in Decryption with our guest Deniz Unaleconomist at CEPII, Center for Prospective Studies and International Information, author of the article The crisis should recompose economic specializations in the world, appeared on The Conversation website and another on theEuropean pharmaceutical industry.