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Coronavirus crisis will send globalization into reverse

Complex Asian supply chains and just-in-time production are vulnerable to shocks

| China
An employee wearing a face mask works in a factory of printed circuit boards in Suining, China on Feb. 1: the coming crisis will accelerate other changes already under way.   © FeatureChina/AP

With each passing day the economic severity of the coronavirus crisis grows clearer. A global recession is now certain, along with crunching falls in trade.

Ironically, many of the Asian nations that responded most effectively to the pandemic are now likely to be hit hardest by its fallout: it will hasten decoupling between the U.S. and China and accelerate the collapse of the trade-dependent model of globalization upon which so many Asian economies rely.

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