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In response to the supply-chain disruptions, 52 percent of the companies said they had taken protective measures. Fifty-five percent are considering looking for new suppliers in the next six to 12 months -- in a third of the cases, they are considering moving suppliers to countries that are already in their top three existing supplier locations, the results showed.
DIGITAL INNOVATION
Despite rising unilateralism and protectionism in some countries, "China has shown its commitment to international cooperation, openness, rules-based free trade and multilateralism which are important for global economic recovery," said Wilson Lee Flores, a columnist for the English daily The Philippine Star.
He stressed deepening the Asia-Pacific partnership featuring mutual trust, inclusiveness, cooperation, and mutual benefit, and "making the pie of cooperation even bigger" to achieve common prosperity.
