Companies around the world will alter their supply chains to be less dependent on China in the wake of the coronavirus crisis, according to investor Mark Mobius.
Speaking to CNBC's "Street Signs Europe" on Tuesday, Mobius, founder of Mobius Capital Partners, said the pandemic was already prompting a rethink among businesses as they sought to mitigate supply shocks from any future events of a similar scale.
"A lot of buyers and a lot of the people depending on the supply chain in China are now having second thoughts, and are beginning to diversify their supply chain as much as possible to be closer to home," he said. Mobius noted that in the United States, there would "of course" be a preference for companies based in the U.S., or in more local overseas markets like Mexico or Canada.
"But at the end of the day, I think there's going to be a diversification where these supply chains get moved into places like Vietnam, Bangladesh, Turkey, even Brazil, so that these companies can have a more diversified supply chain," he added.
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