Global Supply Chains (GSCs) Disruptions and Post-Pandemic Economic Challenges around the Globe: Policies based on the World Trade Organization

Summary

The focal point of this policy paper is to examine the Global Supply Chains (GSCs) disruptions in the post-pandemic world and, eventually, propose some policy suggestions that could be addressed through the line of the World Trade Organization (WTO). The paper comprehensively describes the current challenges in the supply chain caused by the COVID-19 pandemic in the form of consumer product shortages and demand shocks, respectively, in developed and third-world countries.  It also formulates some set of policy areas that requires a holistic vision on the global cooperation among the US, EU, and the rest of the world concerning the re-allocation of the primary production sectors such as agriculture that may lead to the positive consequences in turn. The role of the WTO, in this respect, to alleviate the GSCs disruptions is mainly prioritized around the Doha Round discussions that could be essentially proved feasible through a collaboration in the trade relations. Therefore, the sustainability of the solution is heavily shown in the application of the correct policies that do not contradict the interests of both developed and third world but rather combine all the efforts for mutual gains.