Odd Lots Ryan Petersen on How Global Supply Chains Have Gotten Even Worse
Oct 14, 2021
Ryan Petersen, Founder and CEO of Flexport, shares his insights on the deteriorating state of global supply chains. He discusses how post-pandemic issues, like semiconductor shortages and port congestion, are exacerbating disruptions. Petersen highlights the impact of China's energy crisis on production and prices, as well as rising transportation costs hampering logistics. He addresses the need for governmental action and tech innovations to revamp port operations, emphasizing the long-term implications of these challenges for the global economy.
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Global Trade DDoS Attack
- Global trade is experiencing a "distributed denial of service" attack due to a surge in container volumes.
- This volume increase stems from consumers shifting spending from services to goods.
Sustained Goods Demand
- Consumers are still buying more goods than services, even with increased service availability.
- Flexport's data predicts this trend will continue until Christmas.
China's Energy Impact
- China's energy crisis is impacting production, with some factories operating only two days a week.
- One customer shifted to night production due to energy rationing.