The world has reversed in many ways during the past twenty-four months. And the reasons for it have varied but for sure covered all areas of concerns that were even heard of for many decades.
This is impacting the lives of any and everyone. Inflation is running hot throughout the world where basic needs are becoming unaffordable. Food accessibility is at the lowest level in decades due to higher stress by the Russia-Ukraine conflict. On the financial side, central banks are hiking the rates resulting in higher borrowing costs ad larger EMI's resulting in a lowering of disposable income.
These reasons along with a broken supply chain have led many countries to create a policy an environment that incentivizes local manufacturing of various products.
This vision is not possible to be achieved soon as the CAPEX deployment has not caught up with the timelines. There is also continuous price rises that are making project cost go up resulting in delayed execution or start.
The problem is becoming more evident given the largest section of the world population is low middle income. This would impact the civil harmony that globalization had achieved and even harder financial stress in the coming months.
The worst outcome is already forming its legs which is the food shortage will be a reality by year-end or next year early as the grain exports volume drop due to halt or reductions from Russia and Ukraine, they are the largest exports resulting in a larger impact.
This accompanied by a financial crisis or recession at the same time due to liquidity draining will be the worst possible scenario. Though as a silver lining there will be the restart of stimulus and lower interest rates. But such scenarios will change the world as we know it for decades shifting wealth on large scale.