Open AccessHOW SUPPLY CHAIN DISRUPTION IS DESTROYING MSMES AND THE EXPECTATIONS FROM WTO
Author(s) -
Masood Ahmed
Publication year - 2020
Publication title -
international journal of advanced research
Language(s) - English
Resource type - Journals
ISSN - 2320-5407
DOI - 10.21474/ijar01/12224
Subject(s) - order (exchange) , world trade , supply chain , business , international trade , developing country , pandemic , world economy , international market , small and medium sized enterprises , covid-19 , international economics , economics , economic growth , finance , marketing , political science , medicine , disease , pathology , infectious disease (medical specialty) , law
The epidemic has taken the world into its grip.The epidemic impact is so severe that the global economy is expected to shrink. Micro, Small and Medium Enterprise (MSME) are the backbone of every country, and their contribution in terms of employment and GDP is undeniable, but it is the second-worst affected group behind only to daily wagers, small shop owners or small traders who depend on normal market conditions for their daily earning. The world-renowned agencies WTO and other trade organization must lead the way towards the recovery if they want to remain significant in the new world trade order, the expectation is to do necessary reforms at the global level to accommodate the developing nations concerns to revive international trade and relief measures required to end the pandemic.