Global Supply Chain Issues, To Likely Get Worse.
According to a report published by Moody's Analytics on Oct.
11, .
The disruptions in the supply chain caused by the COVID-19 pandemic "will get worse before they get better.".
As the global economic recovery continues to gather steam, what is increasingly apparent is how it will be stymied by supply-chain disruptions that are now showing up at every corner, Moody's Analytics, via CNN.
The report pointed to a number of reasons for the supply chain slowdown.
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Border controls and mobility restrictions, unavailability of a global vaccine pass, and pent-up demand from being stuck at home... , Moody's Analytics, via CNN.
... have combined for a perfect storm where global production will be hampered... , Moody's Analytics, via CNN.
... because deliveries are not made in time, costs and prices will rise and GDP growth worldwide will not be as robust as a result, Moody's Analytics, via CNN.
A shortage of truck drivers was cited by the Moody's report as the "weakest link" in the supply chain.
But it also cited the vast differences in the approach to the pandemic embraced by the world's most powerful economies.
This presents a serious challenge to harmonizing the rules and regulations by which transport workers move in and out of ports and hubs around the world, Moody's Analytics, via CNN.
According to the report, this "serious challenge" is being exacerbated by the absence of a "concerted global effort to ensure the smooth operation.".
Despite the dire warnings related to the global supply chain presented in the report.
The CEO of JPMorgan Chase sees stabilization of global markets on the horizon.
This will not be an issue next year at all.
This is the worst part of it.
I think great market systems will adjust for it like companies have, Jamie Dimon, JPMorgan Chase CEO, via CNN