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Carlyle, Blackstone CEOs See Critical Supply Chains Localizing

Carlyle Group Inc. and Blackstone Inc.’s chief executives said countries and companies will need to reduce their reliance on historical trading partners and build more local supply chains to ensure food and critical goods reach consumers.

Countries need the facilities to store inventory rather than rely on suppliers to deliver goods rapidly, and companies need to bring manufacturing in-house or closer to where they have control, Carlyle Chief Executive Officer Kewsong Lee said.