I traveled around the world a few weeks ago – from the US to Europe to Asia and back to the US.

Of course, I stayed updated on major news via the Internet. What I found especially interesting was the circle of major economic concerns going in both directions between the US and Europe and the US and China.

I don’t recall a time in recent memory when it has been so important to stay on top of these evolving economic issues.

The concerns between the US and Europe have to do with the stability of our respective economies. Today, we celebrate a deal in which European leaders have agreed to a restructuring of Greece’s debt and a new path forward for improving the European Union’s economic outlook. In response, stocks rallied around the world (as of this writing).

This is good news, because much of what I have been hearing here and in Europe centers on worries about the Greek bailout and the viability of the Euro. They are not out of the woods yet, but a good sign.

I also found that Europeans are very concerned about the ongoing high unemployment rate in the US and the potential implications of a double-dip recession. Well, although there are still big worries, more good news came today in the form of the latest US economic report showing that the US economy grew 2.5% in the third quarter of this year. The US needs stronger growth for jobs to rebound and consumers to maintain and increase their confidence and spending levels, but the report is positive and also had a hand in the day’s higher stock market returns.

As you might guess, concerns between the US and China were concentrated on trade when I was in Asia. Whereas the US focused on Chinese currency being undervalued, the Chinese were focused on US consumer spending and the affect this would have on the continued growth of the economy in China.

Of course, these are all very important concerns as the world continues to grapple with the residue of past policies and the Great Recession. But they also tell us a lot about how world economies and policies are interconnected and thus, the importance of global supply chains.

It is simply amazing to sit in a meeting in the UK discussing a North American company, and I meet with a person from Africa. Then in a supply chain meeting in Germany involving a US company, I meet with a person from South America. Next, at a dinner in Seoul, Korea, an unknown Korean in the restaurant tells me how sorry he is that Steve Jobs has passed away.

And lastly, at a meeting in China involving an Italian retailer, I meet with a supply chain professional from India.

So, my “worldly view” is that even though I am not really fond of the song, it certainly is a small, highly interconnected world that we inhabit after all. And we are all working together in the world of business through the magic of global supply chains.

What are your thoughts of how supply chains are interconnected around the globe? What have you been hearing in your travels?

Go!Go!Go!

Jim

More Resources

Is Your Supply Chain a Source of Hidden Profits? 

White Paper: Leveraging Asia Supply Chains for Increased Value

European Operations Are Moving East, but How Far?

Replacing China Myths with Fact Podcast - Part 1, Part 2 and Part 3