In the office today re-reading yesterday's The Star column by Anthony Dass entitled A need to rethink global supply chains, it reminded of a Chairman message for a PLC meant for their 2020 Annual Report.
The Chairman wrote that the world is undergoing a transformtion of epic proportion due to the Corona Covid 19 pandemic.
Contrary to the victorious chest thumping by politicians, civil servants, and public at large several months ago, he felt the world is not yet out of the woods. People are wary of other people around them and what used to work does not work the same way anymore.
Upon analysing the current social trend, he predicted trend towards remote mode of working, accelerated use of technology, roll back in globalisation, and need for self reliant and self sufficiency for goods and services. The world will be re-prioritising its needs.
That is where he meets the view of Anthony Dass, who viewed the pandemic reversed globalisation and stiffled global investment and trade. FDI for 2020 to 2010 is expected to drop by 40%. Cross border M&A will continue to decline.