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제목 How to Fix Global Supply Chains for Good (CFR) 기타 2021-11-24



How to Fix Global Supply Chains for Good

 

 

 

 

 

November 23, 2021

Roger W. Ferguson Jr. and Upamanyu Lahiri

 

 

The difficulties plaguing global supply chains have captured the world’s attention in recent weeks, illustrated in the media by pictures of empty store shelves and cargo ships waiting at sea. The Joe Biden administration has taken some steps to tackle the immediate challenge, opening the Port of Los Angeles to 24/7 operations and enlisting the help of private companies to move goods, for example. However, these supply chain issues will likely persist for the next six months to a year, possibly even longer.

 

Some of these challenges reflect the unbalanced nature of consumer demandheavily skewed toward goods and away from servicesa notable feature of the postpandemic reopening. Another chief factor is the dramatic decline in workforce participation. Federal Reserve Chairman Jerome Powell suggested in a recent press conference that this will right itself eventually “with further progress on containing the virus”, as workers will be less fearful of returning to work. There are some signs that the supply chain bottlenecks are easing up a bit.

 

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