Let us face it. The last couple of decades have witnessed China becoming an economic superpower and supplying almost everything we consume on a daily basis. However, the Covid-19 virus outbreak may change the scenario altogether. According to The Economist, “an emotional decoupling is underway” We, as marketers, halal industry and Islamic finance professionals, have to wake up to the reality.
Do we have to reevaluate what our supply sources are going to be in the long run? Can we still continue to depend on China only to provide us all the raw materials and finished products for our businesses? What are the implications of the virus outbreak on the world supply-chain system? Is it a good business strategy to depend on one country for the products vital to your business and your economy?
What is your take on this issue? Please let us know. If you would like to write an article on this or a similar topic, we will be glad to publish it on The Halal Times