![]() ![]() Global supply chain effects are spreading slowly but will affect U.S. ![]() This is a so-called black swan event, Sheffi said: a rare, unpredictable disruption that causes lasting damage. ![]() Businesses are also seeing a reduction in global demand because of fear and online distancing, he said, which could bring about a severe recession. And today China, where the pandemic started and factories have been affected for weeks, plays a much bigger part in the global economy than it did during past disasters. COVID-19 is affecting both supply and demand. Other unanticipated events have caused supply chain upheaval in the last few decades, including the Fukushima nuclear meltdown, 2011 floods in Thailand, SARS and MERS pandemics, and Hurricane Katrina.īut it is inaccurate to compare the coronavirus to these other events, said MIT professor Yossi Sheff i, director of the MIT Center for Transportation and Logistics, during a March 16 webinar. The rapid spread of the novel coronavirus is crippling supply chains around the world, with companies from Apple to Nintendo announcing shipping and manufacturing delays. ![]()
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