Thread by @coface

We're launching the 25th Country Risk Conference at the @BFMBusiness studio with a panel discussion on the Globalisation of Services, moderated by @ThierryArnaud.
Follow our LiveTweet here to learn more from @IsabelleMejean, @BFB61, @VadcarCorinne and @xavier_durand_!

For @VadcarCorinne, one of the major impacts of this economic crisis is the way it has pushed us to free ourselves from "spatial constraints".
#CofaceCRC

Globalisation has always moved forward when you can get rid of geographical barriers; it's what @BaldwinRE calls 'decoupling'," says @VadcarCorrine.
#CofaceCRC #CountryRisk"

"For @IsabelleMejean: "this crisis has shone a light on interdependencies, including for example supply chain problems, notably regarding #PPE".
#CofaceCRC #CountryRisk."

Bruno Berthon @BFB61 evokes "an absolutely spectacular acceleration of digitalisation: using the cloud for remote working, e-commerce, telemedicine, etc." as the most striking element of this crisis.
#CofaceCRC #CountryRisk

For @BFB61 Bruno Berthon, in this crisis that we're going through, digitalisation is becoming indispensable, which also opens up questions regarding data sovereignty.
#CofaceCRC #CountryRisk

All sectors of the economy are affected by this crisis, @xavier_durand_ explains, with Coface today managing €500 billion in risk, with 3.5 million companies across 200 countries.
#CofaceCRC #CountryRisk

"This crisis has also enabled us to dare to make full use of digital means of working: I would never have imagined having such a decentralised and efficient organisation 2 or 3 years ago" - @xavier_durand_ on digitalisation
#CofaceCRC

"There are different ways to be 'close' ... The reduction of geographical distances thanks to #digitalisation, and #relocation, are not antinomic" - @VadcarCorinne #CofaceCRC #globalisation

.@VadcarCorinne: "Just because you get closer to a market, doesn't mean you get closer to customers. It doesn't mean that you understand their true expectations. Value chains have been reorganised in a 'glocal' (global & local) way."
#CofaceCRC #CountryRisk

"It is this market-centric operating model that @Accenture has decided to base itself on. Complexity of a 100% global model, especially in services where the client requires local contact," as @BFB61 Bruno Berthon explains.
#CofaceCRC

For @BFB61, although #nearshore models are more expensive than total relocation, their proximity and reactivity notably allows the #textile sector to better adapt.

Coface's 2021 forecast for the Textile-Clothing sector: coface.com/fr/Etudes-econ…
#CofaceCRC

.@IsabelleMejean discusses the risks associated with the globalisation of value chains: "The question of vulnerability in strategic sectors arises, and politicians and companies have to arbitrate risks and decide whether or not to relocate".
#CofaceCRC

"At the beginning of the health crisis, Coface saw a slight #relocation movement taking shape, particularly from emerging Asian markets, but with an inevitably limited absorption capacity" - @xavier_durand_ #CofaceCRC

"Coface is at the heart of this Global / Local paradox, as described by @ThierryArnaud: we have very deep local knowledge, along with the capacity to provide information and analysis worldwide within 24 hours!" - @xavier_durand_ #CofaceCRC

.@xavier_durand_ talks about the resilience of companies and value chains: "they should not be seen in terms of absolute vulnerability, but in terms of systemic vulnerability". #CofaceCRC #CountryRisk

Relocating is not really the issue for @BFB61; it's more a question of regaining the ability to control certain products; securing supply through partnerships, stocks, etc.
#CofaceCRC #CountryRisk

"Today, we exchange goods like we exchange services, that's the changing paradigm. It's completely revolutionary." @VadcarCorinne talks about "Service Globalisation". #CofaceCRC #CountryRisk

In many industries, value is shifting from products to services. This is the "servicification" explained by @VadcarCorinne. It is now a question of marketing a use, or a performance of use (e.g. Uber, Siri).
#CofaceCRC #CountryRisk

"#Covid_19 constraints haven't lead to us buying more DVDs; we use a subscription-based video-on-demand service. We no longer buy just food; we're also buying a delivery solution."

@VadcarCorinne on servicification during the #coronavirus crisis. #CofaceCRC"

"Companies are therefore changing their revenue model; they need to be multi-local. But it's also an opportunity, based on client needs, to provide a response to a problem that is often global, and to differentiate oneself from the competition." - @VadcarCorinne
#CofaceCRC

"Industrialists are turning to activities with high added value content, such as services. You know your customer > you offer them a differentiated service > you apply a tailor-made price = you generate more profits" - @IsabelleMejean
#CofaceCRC

"The potential growth of international trade is now clearly focused on the service sectors" - @IsabelleMeajean at the Globalisation of Services panel discussion at the Coface Country Risk Conference #CofaceCRC

The answer to the question of Digital Sovereignty is probably not a protectionist model, according to Bruno Berthon @BFB61, because it is far too easy to circumvent.
More likely options:
1: grouping by blocs / continents
2: mastering sourcing and data flows
#CofaceCRC

"Individual scale data might not be fascinating, but when aggregated in time and space, it becomes absolutely strategic" - @xavier_durand_ at the #CofaceCRC, discussing digital sovereignty.

"This crisis is not over. I think we're going to continue to experience unexpected things, and the key will be agility." It is with these words that @xavier_durand_ closes the first panel discussion of the 25th Coface Country Risk Conference.
#CofaceCRC

Thank you for following our LiveTweet! Join us again tomorrow at 2pm CET for the second debate: "The marriage of state and economy in Europe, for better or for worse?" Register here: linkedin2.colloque-risque-pays.com
#CofaceCRC