Supply crunch morphing into full-blown global crisis, Auto News, ET Auto

 Supply crunch morphing into full-blown global crisis, Auto News, ET Auto
Both countries have been caught out by not having enough reserves amid a scramble throughout the world for natural gas and for oil, which has almost doubled in price in 12 months to nearly $80 a barrel, the report said.

A supply crunch that initially put a question mark over the availability of luxury cars or whether there would be enough PlayStations under Christmas trees is instead morphing into a full-blown crisis featuring a shortage of energy, labour and transport from Liverpool to Los Angeles, and from Qingdao to Queensland, The Guardian reported.

All the problems are in one way or the another tangled up in the surge of post-pandemic consumer demand, but taken together they threaten what one leading economist calls a “stagflationary wind” that could blow the global economy off course, the report said.

Mohamed El-Erian, and adviser to the insurance giant Allianz and president of Queens’ College, Cambridge, says this week’s…

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