We rarely think about supply chains – those immensely complex networks of production and logistics that structure the economy.
That has changed. Early in the COVID-19 crisis, we learned that Australia imports much of its basic medical equipment like facemasks and other protective gear. As borders were being closed importing this high-demand equipment got suddenly very hard.
Now there is an unsurprising clamour for the government to take more of an interest in how our supply chains actually work, and to use the traditional tools of protectionism to encourage domestic production of medical equipment and pharmaceuticals.
Prime Minister Scott Morrison said in April that “we need to look very carefully...
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