At the beginning of the year, we looked at how an explosion in demand for consumer electronics led to a shortage of microchips across the globe. This semiconductor shortfall has continued in the intervening months and its impact has spread across numerous industries. Along with preventing carmakers from installing vital microchips in vehicles, the shortage has also hindered production of iPads, farming equipment, and even dog grooming machines. 

“This particular problem affects all aspects of manufacturing, from little people Continue reading

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April 29, 2021

The current vaccine rollout that is going strong throughout the country is largely the result of multi-billion dollar deals struck between economic powers like the U.S. and U.K. with pharmaceutical giants like Pfizer and Moderna. But while bilateral trade agreements across the globe allowed for the largest vaccine rollout in history, this video looks at why these deals are also delaying the vaccination process in struggling countries like Brazil and India.

Questions:

  1. What are the advantages and disadvantages of bilateral Continue reading
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April 22, 2021

Earlier this week, we looked at how pandemic lockdowns led to increased consumer demand as well as supply chain problems that are delaying deliveries around the world. Large-scale disruptions such as the Suez Canal blockage and the traffic jam at the Port of Los Angeles have resulted in wide-ranging financial damage to all sorts of small operators who cannot get their hands on vital merchandise. For instance, one restaurant in Oklahoma must pay $200 for a case of gloves that Continue reading

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April 20, 2021

On any given day since mid-2020, the Port of Los Angeles has had as many as 30 container ships anchored outside and waiting to eventually dock. This video looks at how the pandemic inspired a boom in online purchases while also causing a shortage of shipping workers, leading to the transportation crisis currently taking place at ports across the world. 

Questions:

  1. How did the pandemic lead to supply chain problems that caused traffic jams at major ports around the Continue reading
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April 8, 2021

Movie theaters across the country closed for months last year due to the Covid-19 pandemic and then struggled to recover once other businesses began to reopen. After Tenet disappointed at the box office during the summer, other would-be blockbusters like Wonder Woman: 1984 and Raya and the Last Dragon were simultaneously released in theaters and on streaming services. This radical change in distribution made industry observers and uneasy theater owners wonder if moviegoers would continue to remain at home as Continue reading

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March 30, 2021

Last week, one of the world’s most important commercial waterways shut down as a 200,000-ton vessel became lodged in the Suez Canal. After the enormous ship could not be removed immediately, experts started to worry that Ever Given would remain stuck for weeks and wreak billions of dollars in economic havoc. Then yesterday, the container ship was finally dislodged from the canal with the help of high-powered tugboats and an unusually high tide brought on by a full moon.

Now Continue reading

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March 25, 2021

On an average day, at least 10 percent of global trade passes through Egypt’s Suez Canal aboard more than 50 ships. That hasn’t been the case since Tuesday, however, when a 200,000-ton container ship ran aground and became lodged in the narrow canal. Although tugboats and earthmovers have attempted to remove the enormous obstruction, so far their efforts have failed as trade on this vital waterway has come to a halt. 

“I have never seen a container vessel this Continue reading

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March 23, 2021

As the pandemic forced Americans to stay at home a year ago, many people turned to indoor activities like baking, watching TV, and playing video games to pass the time. Sales of products like baking accessories and new televisions increased as a result, but video games skyrocketed in popularity to a degree never seen before. In 2020 Americans spent a record $56.9 billion on gaming, a 27 percent increase from the year before. 

Sony reported a 62 percent jump Continue reading

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March 19, 2021

Last month, we looked at how NBA Top Shot sells digital basketball cards for thousands of dollars through its online marketplace. Since then, non-fungible tokens (NFTs) like Top Shot cards have skyrocketed in value, with one viral gif selling for $600,000 while a NFT artwork was sold through Christie’s auction house for tens of millions. This video explains how NFTs operate along with their possible drawbacks. 

Questions:

  1. How did some NFTs come to be worth thousands or even millions Continue reading
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March 11, 2021

One year ago, the World Health Organization designated the coronavirus as a pandemic. Soon after that announcement, life in the U.S. changed utterly as offices, airlines, and professional sports leagues all came to a halt. And while the U.S. economy is beginning to recover as the vaccine rollout gains momentum, the coronavirus pandemic has had a seismic impact upon America and the rest of the world that will be felt for years to come.

More than 118 million cases of Continue reading

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