WASHINGTON, Jan 21 — US Trade Representative Katherine Tai said on Thursday that global trade policy makers should not try to recreate the pre-pandemic trading system but build one that is more resilient, sustainable and supportive of higher living standards.
“I think that it is time for us to acknowledge that our goal really shouldn’t be to try to go back to the way the world was, say in 2019, but to take lessons, very hard earned lessons, very painful lessons that we have experienced over the past two years and take this opportunity to build toward something that is different and better,” Tai said.The chairman of ports giant DP World, Sultan Ahmed bin Sulayem told the forum it could take up to two years to return to normal once the pandemic ends.
He said Intel was striving, with the help of US and European incentives for re-shoring of chip manufacturing, for a “globally distributed, resilient supply chain where no market is uniquely dependent on any other supply, or any singular location, but there’s also always a duplicity of supply chains available across the globe.”
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