While staying at home has become the new way of life, people find different ways to keep themselves entertained. However, considering the present situation, the availability of many gadgets, spare parts, and orders is taking a back seat. What makes things worse is that people are still looking for answers to why there is a global shortage of chips and gadgets. Could it be the geopolitical tension, the ongoing pandemic, or does it have something to do with cryptocurrencies? As complicated as the answers may seem, let us look at some of the many possibilities of why this could be happening.
The On-going Pandemic Has Taken a Toll for the Worse
The COVID pandemic brought the entire world to a standstill and has made things very challenging. With industries getting affected by more and more businesses shutting down, the market has not been the same ever since. The need to work from home has opened doors to an increase in the demand for various gadgets. However, with the slow supply of spare parts and the increase in demands, manufacturers find it challenging to keep pace. If that is not enough, even logistics are taking longer than usual, due to several restrictions imposed due to COVID.
The Strain on International Trade Relations
While the pandemic is causing a lot of disturbance, even international trade relations have taken a hit. Countries depend on one and another for various things; and when the relationships between countries encounter stress, things get from bad to worse. On one side, every country is looking at ways to source their requirements locally; as a result, the passing of various spare parts from one country to another has reduced, tremendously. This complicated and intense process has equally created many problems with the trade relations across various continents.