Supply crisis in Britain, closed gas stations, empty shelves, electricity sector bankruptcies, meat sector on the brink of collapse. Waste and unnecessary shortages are rampant everywhere as the contradictions of capital become exacerbated.
Tag: industrial shortages
The industrial shortage is not limited to chips anymore. Hundreds of large companies are stopping production at different points in the global chain. The EU and Japan, fearful that U.S. harassment of Chinese products will affect their international investments, are pushing for accelerated repatriation of low-profit but high-impact industries. However, the new Covid wave and the floods in Germany and China have shown that industrial destocking and its aftermath for workers -temporary layoffs and even more precariousness…-are not a passing phenomenon.