France urges business to rethink supply chains due to coronavirus

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PARIS — The coronavirus epidemic has sent a wake-up call to French manufacturers about their over-dependence on suppliers from China and Asia, France’s finance minister said on Friday, urging a deep re-evaluation of supply chains.

Finance Minister Bruno Le Maire said he had ordered a review to determine which French industries needed to rebuild an “economic and strategic independence.”

“This epidemic shows that supply problems create strategic problems in certain industries,” Le Maire told journalists after meeting industry leaders about the impact of the outbreak.

He singled out the pharmaceutical industry in particular, saying that 80% of the raw materials for active agents in some drugs are sourced from China or Asia.

Read more : Financial Post

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