The Covid-19 pandemic will continue to disrupt global supply chains, and cargo congestion will last until 2023.

Semiconductor shortages are affecting consumers’ ability to buy cars, smartphones and virtually all electronics. This situation will not abate in the next two years.

According to economist John Rutledge, the Covid-19 pandemic will continue to disrupt global supply chains and the congestion of goods will last until 2023.

“The nature of pandemics is that they don’t just have a one-time wave of infections and end. They cause multiple waves of infections,” Rutledge, head of investment strategy at Safanad, told CNBC.

Rutledge, who played a key role in former President Ronald Reagan’s economic plan, warned that variants of Covid-19 would continue to shut ports. This situation happened last month at the Chinese port of Ningbo – Zhoushan, the third busiest port in the world.

“The reason is that there were some cases there,” said Mr. Rutledge. The crew is still unvaccinated around the world. So a port somewhere will be closed again.”

According to him, the closure of seaports, along with shortages of supplies and materials, has had a global impact. “You basically produce slower and that’s what affects GDP. If you don’t get the materials you need, you’ll have to slow down production.”

According to him, the shortage of workers is one of the main reasons why supply chain problems will persist for the next two years. “It is not clear how many of these workers are afraid to go to work, do not want to go to work or still have a lot of cash. However, it is clear that the shortage of workers will not be resolved in the next three or six or 12 months.”

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