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Supply chains will see a split, tech to play a bigger role: Investor

CEO and Founder of North Summit Capital Min Wanli speaks during Day 2 of CNBC East Tech West on November 18, 2020 in Nansha, Guangzhou, China.

Dave Zhong | Getty Images for CNBC

A split between global and local supply chains will be important in the event of another crisis like the global pandemic, said the chief executive and founder of investment firm North Summit Capital.

“I believe there’s a bifurcation of the global supply chain into global and local,” said Min Wanli of technology-focused North Summit Capital.

A supply chain is a network between a company and its suppliers to produce and distribute the firm’s products.

“For the critical supply systems, they’ve got to have the self-contained local ecosystem, especially in the next crisis like the … coronavirus,” he told CNBC’s Evelyn Cheng. On the other hand, the pandemic has also shown that a “resilient and also highly

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Financial technology will play an important role in the country’s economic recovery

Revolut is one of many fintech firms that contribute billions to the UK economy
Revolut is one of many fintech firms that contribute billions to the UK economy

Fintech is a true UK success story, providing 76,500 jobs, 1,600 firms, and £7bn for our economy. There was £4.1bn of venture capital investment in UK fintech firms last year. It is now up to all of us to ensure it remains so.

The importance of fintech is about more than just the hard numbers. Small innovative firms bring energy, ideas and growth to hubs across the UK, contributing to our society in many ways. People will of course understand that new tech-enabled services are transforming the way we buy, sell and manage our money. Indeed, many of these proved crucial as we adapted to the pandemic. But fintech firms are regularly first to embrace new approaches, like the flexible virtual working that businesses of all sizes are now considering well beyond Covid-19. Their dynamism

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