The Impact of Overcapacity on the Global Supply Chain

After World War II, we just saw the most incredible period of the build-out of industrial capacity across the world. And this didn't only reach to the highly advanced capitalist countries. It also came to all these developing countries all over the world through import substitution industrialization and then later export-oriented industrialization. The result has been a systemic slowdown or driving down of industrial dynamism that's left capitalism relatively rudderless.