The need to adopt the circular economy as a sustainable and innovative economic model

Abstract

The impact of the Coronavirus pandemic on companies has highlighted the need to transform traditional supply chain models, their vulnerabilities, especially those that are highly dependent on raw materials or finished products in areas severely affected by the pandemic. The purpose of the article is to assess the negative impact of the COVID-19 pandemic, as well as the policies adopted to combat it, with a focus on the global supply chain and international trade. In this context, the pressure to which the elements of global supply chains and demand have been subjected has triggered a cross-border economic disaster due to their interconnection. Thus, this article proposes the adoption of the circular economy as a sustainable and innovative economic model, which can be used to decouple economic growth from resource consumption, waste management and create added value.