Global supply chains are overloaded, not disruptedBy Karl Smith / Bloomberg OpinionThe first step toward understanding “the great supply chain disruption of 2021” is to recognize that the phrase itself is not quite accurate. Supply chains are not disrupted so much as overloaded, and the effects are more national than global. US retail sales soared in March and today stand roughly 20 percent higher than they were in December 2019. By contrast, retail sales in Europe are up just 4 percent. While the spike in energy prices is a global phenomenon, the rise in core prices is unique to the US and driven by the sharp rise in US retail sales.

Source: Taipei Times October 23, 2021 16:42 UTC