The Truth of the Matter
How the World Ran Out of Everything: Inside the Global Supply Chain
Jun 14, 2024
New York Times global economic correspondent Peter S. Goodman discusses the global supply chain crisis, delving into shortages, disruptions, and monopoly power. The podcast also explores challenges in long-haul trucking and strategies employed by companies to navigate supply chain issues. Additionally, it highlights India's potential as a key player in the global supply chain market.
40:04
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Quick takeaways
- Misconceptions during pandemic led to global supply chain strains and shortages in various products.
- Manipulation of scarcity for profit resulted in extreme shortages and ethical concerns over prioritizing profits.
Deep dives
Global Supply Chain Strain Due to Increased Demand
The podcast discusses the strain on the global supply chain due to a surge in demand, resulting from misconceptions at the onset of the pandemic. Companies miscalculated reduced demand, leading to shortages in various products like computer chips, affecting industries from smartphones to medical equipment. Disruptions in labor due to COVID-19 further exacerbated the supply chain issues, causing delays and shortages in essential items.
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