LONDON and SINGAPORE and NEW
YORK, Feb. 21, 2024 /PRNewswire/ -- S&P
Global today published the latest edition of its Look
Forward research series, focusing on the most important
themes that will drive the development of global supply chains
through to 2030.
The global supply chain industry finds itself at a juncture,
grappling with pressures from geopolitical tensions, shipping
disruptions and looming threats from climate change and
technological advances.
These developments have enabled a widespread re-evaluation of
the global wave of outsourcing as countries and companies race to
understand and adapt to shifting trade patterns.
Against this backdrop, S&P Global's leading specialists
investigate the major themes that will shape supply chains in the
decade to come, offering decision-makers a comprehensive overview
to chart a resilient course forward.
Highlights from the report include:
- Trade remains the bedrock of the global economy – S&P
Global expects global trade will grow at a compound rate of 3.3%
through to 2028, outpacing GDP growth (2.6%). Global supply chain
expansion will be led by Southeast
Asia and emerging markets.
- Supply chain policies will continue to shift towards national
security priorities – rising protectionism, resource-guarding,
sanctions and investment subsidies could increase inflationary
pressures.
- Higher financing costs reduce firms' ability and willingness to
invest in supply chain resilience; businesses prefer strategies
that cut risks and boost profitability, like reshoring and
technology enhancements.
- Foreign direct investments point to Southeast Asia and Mexico as reshoring destinations.
- Workforce growth disparity between developed and developing
economies will disadvantage industrialized market supply chains;
cross-border labor mobility is expected to be held back by
politics.
- Despite transporting 45% of global trade by value, the
container shipping industry is ill-equipped to finance its
decarbonization, with cost burdens remaining a powerful
obstacle.
"Whether in the opportunities emerging from evolving dynamics
and technologies, or the risks arising across geopolitical spheres,
the strategic value of supply chains has never been more evident,"
said Edouard Tavernier,
President, S&P Global Mobility. "This edition of Look
Forward brings together the best of S&P Global research to
spotlight the themes shaping supply chains, providing our customers
the fresh focus and perspectives to stay ahead."
For more insights from Look Forward: Supply Chain
(Volume 5 | February 2024), please
visit: https://www.spglobal.com/look-forward/supply-chain
This is the 5th volume of the Look
Forward research series from the S&P Global Research
Council. For more information about S&P Global Research
Council, please visit:
https://www.spglobal.com/en/research-insights/featured/research-council
About S&P Global
S&P Global (NYSE: SPGI) provides essential
intelligence. We enable governments, businesses and individuals
with the right data, expertise and connected technology so that
they can make decisions with conviction. From helping our customers
assess new investments to guiding them through ESG and energy
transition across supply chains, we unlock new opportunities, solve
challenges and accelerate progress for the world.
We are widely sought after by many of the world's leading
organizations to provide credit ratings, benchmarks, analytics and
workflow solutions in the global capital, commodity and automotive
markets. With every one of our offerings, we help the world's
leading organizations plan for tomorrow, today.
Media Contacts
May Kek
Tel: +65 93737164
may.kek@spglobal.com
Nadja Jiang
Tel: +44 7974 044522
nadja.jiang@spglobal.com
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SOURCE S&P Global