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As the world is going through an unprecedented challenging time, MIT’s industrial liaison program (ILP) will present, in collaboration with ZGC, a special symposium in Beijing themed “Emerging Technology, Resilient Business” to share insights in new technological innovations, showcase MIT-related startup enterprises, and further enhance MIT’s links with partners in China and around the globe.
The global pandemic has exposed serious flaws in supply chains, including critical ones for industries such as pharma and medical supplies. Shortages of personal protective equipment for health workers and ventilators in hospitals are the most prominent ones. To prevent this problem from occurring again when the next disaster strikes, governments should consider establishing a stress test for companies that provide critical goods and services that’s akin to the stress tests for banks that the U.S. government and European Union instituted after the 2008 financial crisis. This test should focus on the resilience of companies’ supply chains.