The coronavirus pandemic has raised questions about whether China can maintain its leadership status at the heart of global manufacturing and supply chains.
According to the Oxford Business Group (OBG), the fact that the virus originated in China, the world’s main manufacturing hub, has in fact caused disruptions in global commodity supply chains and has given rise to speculation that some companies are looking for alternative production bases. Also, within the framework of the plans of diversification of the world industry, the international reaction was not long in coming. Authorities in the world’s major economies immediately publicly encouraged their companies to relocate their manufacturing operations outside of China.
In April, Phil Hogan, the European Commissioner for Trade, told the international media that the bloc would seek to reduce its commercial dependence, which is further aggravated by the envelope offered by Japan of 2.2 billion dollars for all countries wishing to withdraw from China. In the United States of America, Larry Kudlow, director of the National Economic Council, said that the government offers full (100%) support for American companies wishing to transfer their activities from China to their countries.
Coronavirus (Covid-19) is not the only culprit in this situation. More competitive alternative markets are more and more numerous to compete with the Middle Empire and in particular in the countries of the ASEAN (Association of Southeast Asian Nations) like Vietnam for example of which the textile industry and clothing thanks to a half-lower workforce offers enormous opportunities in this sector.
In this context notes the Oxford Business group, Morocco an alternative and is a competitive prospect, knowing in this, that the Kingdom has been cited as an example recently for its response to the pandemic of the coronavirus virus (Covid-19). Morocco has historically woven trade links that historically with European markets it had established. The report added that “thanks to its solid industrial base and its strategic location, Morocco has been able and has known maintain its exports to neighboring countries during the containment period, and also maintain its activities in key sectors such as industry, food, textiles and automotive”.
The progress made in recent times by the Kingdom as well as the reforms accomplished and to come make that the country is pushed to reach its objectives still indicates the document of the economic cabinet Oxford Business Group.