US Treasury Secretary Janet Yellen pointed to recent shocks to the global economy as a reason to diversify supply chains.TOKYO - The G7 plans to launch a partnership scheme to diversify supply chains this year, ministers from the group said on Saturday following finance talks in Japan ahead of a major summit next week.
"Spillovers from Russia's war against Ukraine and disruptions caused by the pandemic have made clear the importance of diversified and resilient supply chains," she told reporters. The scheme, dubbed RISE -- Resilient and Inclusive Supply-chain Enhancement -- builds on guidance released in April, and will offer interested developing countries"finance, knowledge and partnerships", the ministers said.