Italy will benefit from the breakdown of global supply chains

Italy is set to benefit from the shortening of supply chains around the world, according to the chief economist of state-backed lender Cassa Depositi e Prestiti SpA.

“Italy can become the go-to supplier for European industrial champions,” economist Andrea Montanino said at a conference on Friday. 

The pandemic, Montanino added, has only accelerated the already ongoing breakdown of global networks into three main regional trade hubs—China, Europe and the U.S. Disruptive events like the blockade of the Suez canal earlier this year show that “long supply chains are no longer convenient.”