COVID-19 pandemic Warning: You are not logged in. Your IP address will be publicly visible if you make any edits. If you log in or create an account, your edits will be attributed to your username, along with other benefits.Anti-spam check. Do not fill this in! ==== Supply shortages ==== {{Main|Shortages related to the COVID-19 pandemic}} [[File:Ntuc super store, Singapore (49505410793).jpg|thumb|COVID-19 fears led to panic buying of essentials across the world, including toilet paper, instant noodles, bread, rice, vegetables, disinfectant, and rubbing alcohol (picture taken in February 2020).]] Pandemic fears led to [[panic buying]], emptying groceries of essentials such as food, toilet paper, and bottled water. Panic buying stemmed from perceived threat, perceived scarcity, fear of the unknown, coping behaviour and social psychological factors (e.g. [[social influence]] and trust).<ref name="cSvA4">{{#invoke:cite journal||vauthors=Yuen KF, Wang X, Ma F, Li KX|date=May 2020|title=The Psychological Causes of Panic Buying Following a Health Crisis|journal=International Journal of Environmental Research and Public Health|volume=17|issue=10|page=3513|doi=10.3390/ijerph17103513|pmc=7277661|pmid=32443427|doi-access=free|s2cid=218856048}}</ref> [[Shortage|Supply shortages]] were due to disruption to factory and logistic operations; shortages were worsened by [[supply chain]] disruptions from factory and port shutdowns, and labour shortages.<ref name="XvcU9" /> Shortages continued as managers underestimated the speed of economic recovery after the initial economic crash. The technology industry, in particular, warned of delays from underestimates of [[semiconductor]] demand for vehicles and other products.<ref name="AutoDW-263" /> According to WHO Secretary-General Tedros Ghebreyesus, demand for [[personal protective equipment]] (PPE) rose one hundredfold, pushing prices up twentyfold.<ref name="AutoDW-275" /><ref name="AutoDW-276" /> PPE stocks were exhausted everywhere.<ref name="Mycfo" /><ref>{{#invoke:cite news ||last1=Lewis |first1=Amanda Chicago |title=The hustlers and scammers behind the pandemic supply chain nightmare |url=https://www.theverge.com/c/23010055/pandemic-ppe-supply-chain-gloves-coronavirus |access-date=5 June 2023 |work=The Verge |date=19 April 2022}}</ref><ref>{{#invoke:cite journal ||last1=Bauchner |first1=Howard |last2=Fontanarosa |first2=Phil B. |last3=Livingston |first3=Edward H. |title=Conserving Supply of Personal Protective Equipment—A Call for Ideas |journal=JAMA |date=19 May 2020 |volume=323 |issue=19 |pages=1911 |doi=10.1001/jama.2020.4770 |pmid=32196543 |s2cid=214600902 |url=https://jamanetwork.com/journals/jama/fullarticle/2763590 |access-date=5 June 2023}}</ref> In September 2021, the [[World Bank]] reported that food prices remained generally stable and the supply outlook remained positive. However, the poorest countries witnessed a sharp increase in food prices, reaching the highest level since the pandemic began.<ref>{{#invoke:cite news ||last1=Ventura |first1= Luca |title=Global Finance Magazine – Poorest Countries in the World 2023 |url=https://www.gfmag.com/global-data/economic-data/the-poorest-countries-in-the-world |access-date=5 June 2023 |work=Global Finance Magazine |date=2 May 2023 }}</ref><ref name="auto4">{{#invoke:cite journal ||last1=Anyanwu |first1=John C. |last2=Salami |first2=Adeleke O. |title=The impact of COVID-19 on African economies: An introduction |journal=African Development Review |date=April 2021 |volume=33 |issue=S1 |pages=S1–S16 |doi=10.1111/1467-8268.12531 |pmid=34149237 |pmc=8207010 }}</ref> The Agricultural Commodity Price Index stabilized in the third quarter but remained 17% higher than in January 2021.<ref>{{#invoke:cite web||title=Food Security and COVID-19|url=https://www.worldbank.org/en/topic/agriculture/brief/food-security-and-covid-19|access-date=23 December 2021|website=World Bank}}</ref><ref name="auto4"/> By contrast, petroleum products were in surplus at the beginning of the pandemic, as demand for gasoline and other products collapsed due to reduced commuting and other trips.<ref name="BBC, US oil prices, 21 April 2020">[https://www.bbc.com/news/business-52350082 US oil prices turn negative as demand dries up], BBC, 21 April 2020.</ref> The [[2021 global energy crisis]] was driven by a global surge in demand as the world economy recovered. Energy demand was particularly strong in Asia.<ref>{{#invoke:cite news ||title=Energy crunch: How high will oil prices climb? |url=https://www.aljazeera.com/economy/2021/9/27/energy-crunch-how-high-will-oil-prices-climb |work=Al-Jazeera |date=27 September 2021}}</ref><ref>{{#invoke:cite news ||last1=Smith |first1=Alexander |title=Cascade of problems fuels world energy crisis as another winter looms |url=https://www.nbcnews.com/news/world/covid-center-world-energy-crunch-cascade-problems-fuel-rcna2688 |access-date=5 June 2023 |work=NBC News |date=8 October 2021 }}</ref> Summary: Please note that all contributions to Christianpedia may be edited, altered, or removed by other contributors. If you do not want your writing to be edited mercilessly, then do not submit it here. You are also promising us that you wrote this yourself, or copied it from a public domain or similar free resource (see Christianpedia:Copyrights for details). Do not submit copyrighted work without permission! 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