Hopefully, in the aftermath of the Coronavirus pandemic, US businesses take a long hard look at their global supply chains. I understand that executives are following the teachings of Milton Friedman, who promoted business practices focusing on shareholder returns without breaking the law, but the mindset created an environment that left the United Stated dangerously exposed to supply chain disruptions for critical goods in times of emergency. The fact that the United States is dependent on China and India for critical medication and protective medical equipment needed to fight the pandemic is borderline criminal for an advanced economy. We can’t forget that counties such as China and India are focused on their agendas and many times their goals are not aligned without ours. Repatriating much of this manufacturing would provide economic security for many of those left behind since the Great Recession ended in 2009. This is a matter of National Security and must be addressed as soon as the pandemic passes.
