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COVID-19 Pandemic Proves the Necessity of Industrial Policy

Several major companies from the United States are reinventing their plans and strategies to make vaccines and medical equipment to treat the coronavirus. The leading players across the country are coming together with temporary collaboration to come up with the powerful fight against COVID-19 pandemic.


The United States was not able to meet any immediate results for critical medical supplies and personal protective equipment in the face of a crisis. Due to the lack of domestic production capacity for things such as respirators and face shields, the demand for global supply chains have dropped down from the medications to parts of breathing machines.


The United States employees are focusing on producing maximum masks and medical gowns. American leading companies and other garment manufacturers are taking efforts on the production of the masks. Moreover, companies such as Ford and Budweiser are producing hand sanitizer and ventilators.


Joe Biden states that these supply issues have scattered the use of the Defense Production Act. Congress attached no strings to force manufacturing repatriation to the $500 billion it made available to giant businesses to damage the economy’s collapse.


Companies that are dipping into the fund Congress made possible to the Treasury Department in the recent $2 trillion. This package is expected to bring more manufacturing operations back into the country and devote maximum resources to prepare the workforce needs.


With the conclusion, a national effort should recognize and prioritize the industries where a lack of a domestic manufacturing ecosystem leaves the country. There is still a question about the economy of the globe, but companies taking initiative to produce necessary goodies is the thing which need to be focused at this moment.