The current state of supply chain disruptions has created a new floor across all supply chains due to multiple shifts in several key forces. These range from deglobalization to the relationship between labor and productivity as well as climate change and inflation. These shifts have brought on significant changes that are not likely to allow supply chains to return to “normal.”
The trend toward deglobalization
At the moment, deglobalization (or reglobalization) is hitting supply chains hard. Although China seems to regret promising “unlimited friendship” to Russia, the outcome of current trends will likely be the development of multiple spheres of economic, military, and political clout.