Global supply chain woes may linger into 2023

GLOBAL supply-chain bottlenecks across critical sectors from energy and agriculture to semiconductors, shipping and logistics have intensified amid a more infectious Omicron variant. Surging global demand as capacity, logistical and labour woes persist has also piled on the pressure.

The big question is: How long will this unprecedented supply-chain disruption that has driven up prices of goods and services persist? The simple answer, going by most predictions, is long enough and probably into next year.

Surging Covid-19 cases in the current Omicron wave could prompt tighter shutdowns in markets, placing more strain on key manufacturing nations. Renewed flare-ups in China, which has a strict zero-Covid stance, have already prompted lockdowns and other curbs in Beijing and key port cities Tianjin, Shenzhen and Ningbo. This is unfolding at not the best of times and adding more strain to an already hard-hit global supply chain.