Co-founder of Tradeshift, Mikkel Hippe Brun is featured in Ledger Insights discussing financial solutions for exporters and their suppliers during the pandemic. Mikkel says “The immediate payment scheme has the potential to become a vital support package for companies during the corona crisis. Not only is the economic potential inherent in itself, it also avoids the behavioral death spiral, where all companies in a value chain withdraw their payments simultaneously.”
Mikkel Hippe Brun, Co-Founder & SVP, China, Tradeshift writes The COVID-19, or coronavirus, outbreak is causing significant disruption to global supply chains. According to a report from Dun & Bradstreet , 938 of the Fortune 1000 companies have a tier 1 or tier 2 supplier that has been affected by the virus. Tradeshift saw Chinese trade activity drop 56 percent in just a single week in February. And we’ve heard publicly from brands like Apple, Microsoft, Nissan and JCB about the disruption they’ve felt as their factories in China closed or operated at limited capacity.