Coronavirus Inspires More Diverse Canadian Supply Chains

It is likely the coronavirus will eventually spread to most countries. The further it spreads, the more impact it will have on the supply chains of Canadian businesses. The disruption began when China shut down its plants in the Wuhan manufacturing hub supplying North American companies and other global businesses. The analysts are watching the global economy closely, and some believe the greatest threats to Canada's economy are oil price changes, travel industry declines, and the disruption of U.S. imports that make their way to Canada. That could be just the beginning if the virus continues to spread.

The Canadian Construction Association warned Canada in late February 2020 that supplies disruptions could drive up costs, but just as importantly is the potential for logistics breakdowns and the collapse of strategic partnerships. Canada imports more than $48.5 billion in goods each year from China that include plastics, steel, iron, electrical parts, electronics, prefab b...

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