Candace Browning, head of global research at Bank of America Merrill Lynch, writes (via MarketWatch):

Six months (and a lifetime) ago, most people had never heard of Covid-19, unemployment was at historic lows, and President Trump had just signed the Phase I trade deal with China. 

At the time,BofA Global Research published a study in which we argued that supply chains were shifting. On the surface, there was nothing controversial about our statement. After all, the past three decades have witnessed a dramatic globalization of ...

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