The year 2020 has become a time of global change. At first glance, the situation seems catastrophic. The world economy has become paralysed by the impact of COVID-19. The interaction between cross-border business and global supply chains has been disrupted. The entire economic structure has been shattered, trade and production chains have been broken after millions of businesses have broken their mutual obligations. But there are also additional opportunities that will allow businesses to use the pandemic to make a new breakthrough. For more details, see an article by Rod Tuvaev, head of sanctions law practice at Alliance Legal CG.
Specialists from Alliance Legal CG predict the transfer of production from China. Cooperation with Asia will be suspended, so European and Russian producers will have a chance to enter the new U.S. export market. They will be able to take a place in the foreign market - at least at the level of supply components. And some industries will be able to offer high-tech solutions with high added value and engineering developments.