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A U.S. Chamber of Commerce survey of its member firms with manufacturing operations in Vietnam found that more than half have been affected by supply chain disruptions attributable to the coronavirus outbreak in China, The New York Times reported Feb. 14.
To exert leverage in upcoming trade negotiations, the White House must be able to back up its promises to impose penalties on what is says is unfair trade. The power to limit auto exports to the U.S. would fit that bill.
As India tries to grow its economy by strengthening its automotive industry, it will continue to emphasize local production and domestic sales. But Prime Minister Narendra Modi's push to protect local jobs means India's domestic focus will limit its prospect of becoming a global auto exporter.
The transition from fossil fuels to alternative energy sources has only just begun, but in countries such as France, the United Kingdom and China, leaders are drawing a roadmap for the long journey ahead.
Just as technology spurred globalization, so, too, will it revolutionize how countries do business with one another once again. Automation, advanced robotics and software-driven technologies are ushering in a new era that will leave fewer opportunities for the developing world.