World Trade Organization Director-General Ngozi Okonjo-Iweala advocated for diversification in global supply chains, identifying an "overconcentration of manufacturing in certain sectors in certain countries."
Ngozi Okonjo-Iweala, director general of the World Trade Organization , speaks during the Clinton Global Initiative annual meeting in New York, on Monday, Sept. 19, 2022.World Trade Organization Director-General Ngozi Okonjo-Iweala urged diversification in global supply chains, amid ongoing efforts to progress the body's reform.
She gave the examples of pharmaceuticals and the dearth of Covid-19 vaccine available to certain importing regions, as producers introduced export restrictions during the pandemic. She also referenced the worldwide shortage of critical semi-conductor chips, which has created bottlenecked manufacturing in the technological and automotive industries.
"Let's reglobalize by situating diversifying industries into these countries. We kill two birds with one stone. One is we build global resilience beyond just our neighbors and our friends, because you never know who is your friend. Your friend today can be not your friend tomorrow," she argued.
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