{{ subpage.title }}

The Graphic Truth: Will US kids get their toys on time?

This year, American kids who've asked Santa for L.O.L. Surprise! dolls, Nerf blasters, or classic Legos may be disappointed. The delivery of these and other in-demand toys could be delayed due to pandemic-related supply chain disruptions that are still hitting US businesses and consumers hard. Container vessels loaded with precious cargo are waiting days to enter busy US ports, while within the country truck drivers are working flat out to meet soaring demand for goods of all kinds. Products are getting wildly expensive or arriving late. Here's a snapshot of the problem, showing longer delivery times, skyrocketing freight and shipping costs, and trucker employment.

Will Biden be the Grinch this year?

The minutiae of supply chains makes for boring dinner table talk, but it's increasingly becoming a hot topic of conversation now that packages are taking much longer to arrive in the consumer-oriented US, while prices of goods soar.

With the issue unlikely to be resolved anytime soon, right-wing media have dubbed President Biden the Grinch Who Stole Christmas, conjuring images of sad Christmas trees surrounded by distraught children whose holiday gifts are stuck somewhere in the Pacific Ocean.

It hasn't been a good run for Uncle Joe in recent months. What issues are tripping him up?

Read Now Show less

What We’re Watching: Europe's trucker shortage, Mapuche emergency in Chile, Japan’s military plans

Truck driver shortage across Europe: No, the UK is not the only European country with an acute shortage of drivers to move goods around. Indeed, the entire continent is now desperately in need of more truckers, mainly as a result of soaring demand coupled with less people willing to do a job for low pay and poor working conditions. The situation in mainland Europe is not as bad (yet) as in the UK, where Brexit has aggravated the problem: the army has been deployed to refill gas stations amid backed-up ports and empty supermarket shelves because EU drivers now need visas. Still, the shortage is creating a massive headache for European companies already struggling to keep up with so much pent-up demand. What's more, a new EU-wide law will soon require truckers to be paid the minimum wage in each EU member state they transit through. This is all precisely what the IMF has been talking about this week, when it warned that supply chain disruptions are slowing down the global post-pandemic recovery and driving up inflation.

Read Now Show less

How long will COVID-fueled inflation last?

Everybody's talking about inflation these days. Rising prices are affecting people from all walks of life, all around the world.

In the US, buying a used car now costs on average 45 percent more than it did in January. Europeans are bracing for a tough winter with soaring natural gas prices that come at the worst possible time.

Asian investors mentioned the word "inflation" on calls this quarter the most times since 2003, when the SARS epidemic battered China's economy. In Lebanon, whose annual rate of inflation is now the world's highest, surpassing Venezuela and Zimbabwe, most people buy local not to support local businesses but rather because they can't afford imports.

Inflation, however, isn't always bad, and is actually a sign of a healthy economy as long as it stays around an annual 1.5-2 percent. But now in most countries it's creeping up too much due to the economic fallout from the ongoing pandemic.

Read Now Show less

Inflation panicking is 1970s hangover, says economic historian Adam Tooze

Why are so many people panicking about rising inflation these days? For economic historian Adam Tooze, it's "sort of undigested legacy of the trauma of the 1970s," the last time the US and Western Europe experienced high-sky inflation, and we're still "working off the hangover from 50 years ago." Watch his interview with Ian Bremmer on the latest episode of GZERO World.

Watch this episode of GZERO World with Ian Bremmer: How the COVID-damaged economy surprised Adam Tooze

Subscribe to GZERO Media's newsletter, Signal

Latest