Draft, not yet released. In stewardship review. Not indexed until the first approved release.

Readings from the other desks

The global baseline is read through each steward’s lens, then once as a whole. Each lens is a projection of reviewed findings, not a separate argument. The other desks’ own editions of this subject are listed first, as cross-references, not copies.

16 min read0 figures8 tables36 notesNR-STRATEGIC-SUPPLYCHAINS-GLOBAL-2026-BASELINE

Contents
  1. ·Edition home
  2. ·Executive summary
  3. 1Trade moves through a few narrow places
  4. 2Key findings
  5. 3Systems and sectors at baseline
  6. 4Risks and capability
  7. 5A chokepoint closure that overlaps a Red Sea diversion and high freight rates
  8. 6Readings from the other desks
    1. 6.1 The other desks’ editions of this subject
    2. 6.2 Three lenses
    3. 6.3 Standards, Academy and steward contributions
    4. 6.4 GCRI reading: the model card
    5. 6.5 Global Risks Forum reading: editorial essays
    6. 6.6 Global Risks Alliance reading: 2027 supply chains and chokepoints readiness pack
    7. 6.7 Nexus Standards reading: standards and regulatory watch
    8. 6.8 Risk Academy reading: literature and evidence review, science and assessments
  9. 7The 2027 agenda
  10. 8Systems in depth
  11. AMethodology
  12. BData appendix
  13. CReferences and record
  14. ·Complete edition, for print

6.1The other desks’ editions of this subject

Federation: each desk writes its own edition for the subjects in its remit. Until a desk releases, its edition shows its frame and the reading this edition printed for it.

DeskEditionStateIdentifier
GCRI Systems EvidenceNo edition of this subject at this desk in the 2026 Baseline cycleNot in this cycle
GRF Public DeliberationOutside this desk’s remitNot in remit
GRA Capital ReadinessNo edition of this subject at this desk in the 2026 Baseline cycleNot in this cycle
Standards ProgressOutside this desk’s remitNot in remit
Academy CapabilityOutside this desk’s remitNot in remit
Index MeasurementOutside this desk’s remitNot in remit

6.2Three lenses

One edition, read by each steward. The lens of this site comes first.

GCRI · KEY T

Technical Truth

The evidence supports reading trade as a network with narrow places. Common causes recur across routes, disruptions spread through shared straits, canals and processors, and recovery is limited by thresholds such as transit capacity and stocks. Evidence is strongest for single routes and weakest for exposure that crosses several.

INF-003 · CON-007 · MIN-010 · SYS-012

GRF · KEY M

Public Meaning

For most people supply chain failure arrives as a higher price at the pump, on a food label or on a device. The baseline asks that public debate treat trade routes as shared and keep recovery, not only prevention, in view.

CON-006 · FOO-009 · FIN-008

GRA · KEY F

Capital Meaning

Readiness implications only. Freight, insurance and fuel costs moved sharply, and projected canal revenue halved in one year1618. These show where finance-readiness evidence will matter. Nothing here is advice, a rating or an approval.

FIN-008 · FIN-011

NEXUS

Synthesis

Trade risk is well described route by route and thinly measured as a system. The 2027 programme should bind exposure data, test the compound chokepoint loss, and map recovery thresholds before the next closure.

SYS-012 · C-01 · C-03

6.3Standards, Academy and steward contributions

How the Nexus Standards drafts, the Risk Academy and the three stewards feed each quarterly edition for supply chains and chokepoints. The standards are a preparatory working draft (2026) and are cited as drafts, never as adopted standards.

Table 6.1The quarterly rhythm every edition follows
QuarterEditionQuestionBoundary
Q1State and AgendaWhat matters this year, and what is the starting position?observed baseline stays distinct from planned work
Q2Evidence and BuildWhat new evidence and capability exist?a configured capability is not a validated result
Q3Stress Test and ReadinessWhat do scenarios and tests show?simulated loss or performance is not observed impact
Q4Annual Synthesis and RenewalWhat changed in the year, and what renews?release follows review, not event publicity deadlines
Table 6.2Who contributes what each quarter
Steward or bodyRoleContribution route
The Global Centre for Risk and Innovation (GCRI Canada)Lead Institution and Consortium Secretariat; publisher of record; technical truth (key T)science and practice communities · GCRI gateway
The Global Risks Forum (GRF)leadership, dialogue and the Universe programme; public meaning (key M)policy, Universe and national adoption · GRF gateway
The Global Risks Alliance (GRA)finance, insurance and development readiness; capital meaning (key F)finance and insurance · GRA gateway
Nexus Standardspreparatory drafts on vocabulary, hazards, indicators and methodsStandards site · working groups HAZ, IND, MTH, FIN, AI
Risk Academylearning pathways tied to the agenda questionsAcademy gateway · learning by review
Reports strategic deskssupply chain chapter inputs: GCRI evidence and GRA readinessstrategic editorial board

Standards drafts used in this edition

  • Risk vocabulary NRS-C1 (424 terms) for terms in the glossary
  • Hazard atlas NHS-1 1.1.0 (905 hazards in 120 families) for risk objects
  • Seven risk classes: global, catastrophic, existential, emerging, planetary, exponential, frontier-tech

Standards calendar to watch

  • Founding calls from 20 October 2026; working groups meet from 5 November 2026
  • Inaugural Global Standards Council session, 12 January 2027
  • Quarterly reviews in March, June, September and December, aligned with each edition

6.4GCRI reading: the model card

GCRI’s reading of this edition is its model card: what the national model is, what it computes and where it stops. It is printed in full in Annex A, with the methods it belongs to. Annex A, methodology

6.5Global Risks Forum reading: editorial essays

Four signed essays by the Reports editorial team set out the positions this edition takes. They are interpretation, labelled as such; the evidence they draw on is in the findings register.

Ships carry most of the world’s goods, and a few straits, canals and processing hubs decide cost and time. Reading each route alone understates how a fault in one becomes a fault in many. This edition reads the network.

EDITORIAL ESSAY · 01

Trade is a network with narrow places

Distance-adjusted trade grew 5.9 percent in 2024 against 2.2 percent for volume. UNCTAD reads the gap as fragility and inefficiency, not as strength. A route that works only by taking a longer way is a cost, not a buffer.

EDITORIAL ESSAY · 02

Rerouting is not resilience

A closure at Hormuz shut in oil production and cut fertiliser flows together. The fertiliser effect arrives later, at planting, and cannot be rescheduled without yield loss. This is why the baseline treats trade and food as one system.

EDITORIAL ESSAY · 03

Energy and food share a strait

WTO data show world merchandise volume up 4.6 percent in 2025, while Middle East export volumes fell 9.7 percent year on year in the first quarter of 2026. A healthy total can hide a severe regional loss.

EDITORIAL ESSAY · 04

Aggregate trade can hold while parts fail

6.6Global Risks Alliance reading: 2027 supply chains and chokepoints readiness pack

The registers that open the 2027 global cycle. At baseline each is initialised from this edition.

Table 6.32027 supply chains and chokepoints readiness pack
ItemRegisterState at baselineFirst 2027 entry
E1Global risk state deltabaseline set by this editionchanges against the baseline
E2WEFH+B state deltafive global system readings setindicator updates and freshness
E3Agenda and Portfolio movementeight agenda items · 6 proposed objectsadmission decisions
E4Federation delivery registernational chapters in preparationnational chapters
E5Consortium capability registernational consortia formingfirst contributions
E6Leadership questions and challengesnone yetfirst challenge log
E7Foundry technical statenational environments preparedfirst federation cut
E8Publication candidatestwelve findings carried forwardPUBLISH · HOLD dispositions
E9Universe readinessone candidate missionadmission and role spine
E10Correction registernonefirst federation-wide cycle

Publication dispositions

  • Publish
  • Hold
  • Needs evidence
  • Restricted
  • Superseded

6.7Nexus Standards reading: standards and regulatory watch

Instruments and published guidance that shape the systems in this edition, by status on the retrieval date. The edition assesses no one’s compliance.

  • IN FORCE
  • ADOPTED
  • PUBLISHED · GUIDANCE
  • PUBLISHED · VOLUNTARY
Table 6.4Standards and regulatory watch
InstrumentBodyScopeStatusRelevance
UN Convention on the Law of the Sea, straits regime29United NationsglobalIN FORCEtransit passage
Montreux Convention30signatory statesTurkish StraitsIN FORCEstraits passage
Constantinople Convention31signatory statesSuez CanalIN FORCEcanal passage
Panama Canal treaties32Panama and the United StatesPanamaIN FORCEcanal neutrality
ISPS Code, SOLAS chapter XI-224IMOglobalIN FORCEship and port security
Trade Facilitation Agreement25WTOglobalIN FORCEcustoms and transit
ISO 28000:2022 supply chain security33ISOglobalPUBLISHED · VOLUNTARYsecurity management
ISO 31000:2018 risk management34ISOglobalPUBLISHED · VOLUNTARYrisk process
Critical Raw Materials Act35European UnionEUIN FORCEstrategic raw materials
Chips Act36European UnionEUIN FORCEchip supply
SAFE Framework of Standards37World Customs OrganizationglobalPUBLISHED · GUIDANCEsecure and facilitated trade

Changed since 2024

  • The WTO set its March 2026 baseline for 2026 merchandise volume growth at 1.9 percent13
  • China’s suspension of its October 2025 rare earth controls runs to 10 November 202622
  • The US and several trading partners announced port fees on certain foreign-built or foreign-operated vessels in 2025245

To watch in 2027

  • Extension or lapse of the rare earth control suspension22
  • Rules on passage and security in straits after the 2026 closure2924
  • Port-fee measures on vessels and their effect on freight245

6.8Risk Academy reading: literature and evidence review, science and assessments

The review behind this edition covers supply chains and chokepoints assessments, peer-reviewed science and the institutional reports that bind its findings. Systematic reviews for each agenda item begin in 2027.

Review protocol

Question
What does the published evidence establish about the world’s supply chains, trade routes and chokepoints and its couplings?
Sources searched
agency and organisation reports; chokepoint flow statistics; freight indices; peer-reviewed supply network literature
Window
releases available at evidence close, 30 September 2026
Selection
sources that bind or contextualise a finding in this edition
Next step
systematic reviews for agenda items 01 to 05 in 2027
Table 6.5Peer-reviewed science and assessments
ReferenceTypeYearRoleUsed for
Acemoglu et al.38journal article2012frameworknetwork origins of fluctuations
Carvalho et al.39journal article2021supportssupply chain disruption after an earthquake
Barrot and Sauvagnat40journal article2016supportsinput specificity and shock propagation
Baldwin and Freeman41journal article2022frameworkrisks and global supply chains
Benigno et al.42working paper2022frameworksupply chain pressure measurement
Rodrigue43book2020frameworktransport geography
Table 6.6Institutional flagships
ReferenceIssuerYearRoleUsed for
Review of Maritime Transport 20251UNCTAD2025supportsvolume and ton-miles
Review of Maritime Transport 20244UNCTAD2024supportscanal shares
Hormuz rapid assessment5UNCTAD2026supportstransit drop
World Trade Report 202615WTO2026supportsMFN share
Global Trade Outlook and Statistics13WTO2026supportstrade forecast
Director-General remarks17FAO2026supportsfertiliser and food
Table 6.7Statistics, flows and freight
ReferenceIssuerYearRoleUsed for
World Oil Transit Chokepoints7EIA2026supportschokepoint oil flows
Short-Term Energy Outlook, September 202646EIA2026supportsHormuz-related oil shut-ins
Panama Canal fiscal year 202510Panama Canal Authority2025supportscanal transits
World Container Index16Drewry2026supportscontainer freight
IMF fourth review as reported18IMF2025contextSuez revenue
Global Critical Minerals Outlook 202626IEA2026contextmineral concentration
Mineral Commodity Summaries 202627USGS2026contextrare earth production
Semiconductor supply chain study28SIA and BCG2021contextchip manufacturing location
Table 6.8Treaties, standards and regulations
ReferenceIssuerYearRoleUsed for
UN Convention on the Law of the Sea, straits29United Nations1982contexttransit passage
Montreux Convention30signatory states1936contextTurkish Straits
Constantinople Convention31signatory states1888contextSuez Canal
Panama Canal treaties32Panama and the United States1977contextcanal neutrality
ISPS Code24IMO2004supportsship and port security
Trade Facilitation Agreement25WTO2017supportscustoms and transit
ISO 2800033ISO2022contextsupply chain security management

Where the evidence agrees

  • Distance-adjusted trade grew faster than volume in 2024 because of rerouting1
  • A few straits and canals carry a large share of oil and container trade47
  • Fertiliser and energy flows are linked through the same strait617

Where it is unsettled

  • How long a closed strait stays closed, and how fast flows return46
  • How far the Middle East conflict and energy prices hold 2026 trade growth below the March baseline13
  • How far export licences on processed minerals reach downstream makers2223

Notes

Numbers are the edition’s reference numbers, so a note reads the same in every chapter. The full list, with every source and its licence, is in Annex C. Annex C, references

  1. 16POST-CLOSE, context only: Drewry (ed.), World Container Index (assessment of 29 October 2026; composite USD 4,429 per 40ft; Shanghai to Los Angeles USD 7,514; Shanghai to Rotterdam USD 3,686; two vessels transiting Hormuz and 62 vessels through Suez in the previous week). Drewry Shipping Consultants, London. Observation year 2026. Accessed 2026-11-03.back
  2. 18IMF (ed.), fourth review of Egypt’s arrangement (Suez Canal revenue USD 6.6 billion in FY2023/24 and projected USD 3.6 billion in FY2024/25), as reported by Hellenic Shipping News from Arab Finance; the IMF report itself was not opened. Observation year 2025. Accessed 2026-11-03.back
  3. 29UNVERIFIED, not opened: United Nations Convention on the Law of the Sea (1982), regime of transit passage through straits used for international navigation, cited from memory. United Nations, New York. Observation year 1982. Accessed 2026-11-03.back
  4. 30UNVERIFIED, not opened: Convention regarding the Regime of the Straits (Montreux Convention), 1936, cited from memory. Observation year 1936. Accessed 2026-11-03.back
  5. 31UNVERIFIED, not opened: Convention respecting the Free Navigation of the Suez Maritime Canal (Constantinople Convention), 1888, cited from memory. Observation year 1888. Accessed 2026-11-03.back
  6. 32UNVERIFIED, not opened: Treaty concerning the Permanent Neutrality and Operation of the Panama Canal, 1977, cited from memory. Observation year 1977. Accessed 2026-11-03.back
  7. 24IMO (ed.), SOLAS chapter XI-2 and the International Ship and Port Facility Security Code (web page; mandatory Part A and guidance Part B; in force 1 July 2004). International Maritime Organization, London. Observation year 2004. Accessed 2026-11-03.back
  8. 25WTO (ed.), Trade Facilitation Agreement (web page; Bali Ministerial Conference 2013; in force 22 February 2017). World Trade Organization, Geneva. Observation year 2017. Accessed 2026-11-03.back
  9. 33UNVERIFIED, not opened: ISO 28000:2022, Security and resilience: security management systems for the supply chain. International Organization for Standardization, Geneva. Observation year 2022. Accessed 2026-11-03.back
  10. 34UNVERIFIED, not opened: ISO 31000:2018, Risk management: guidelines. International Organization for Standardization, Geneva. Observation year 2018. Accessed 2026-11-03.back
  11. 35UNVERIFIED, not opened: Regulation (EU) 2024/1252 establishing a framework for ensuring a secure and sustainable supply of critical raw materials (Critical Raw Materials Act), Official Journal of the European Union, 2024, cited from memory; the EUR-Lex request returned no text. Observation year 2024. Accessed 2026-11-03.back
  12. 36UNVERIFIED, not opened: Regulation (EU) 2023/1781 establishing a framework of measures for strengthening Europe’s semiconductor ecosystem (Chips Act), Official Journal of the European Union, 2023, cited from memory. Observation year 2023. Accessed 2026-11-03.back
  13. 37UNVERIFIED, not opened: World Customs Organization (ed.), SAFE Framework of Standards to Secure and Facilitate Global Trade, cited from memory. World Customs Organization, Brussels. Observation year 2021. Accessed 2026-11-03.back
  14. 13WTO (ed.), Global Trade Outlook and Statistics, news release of 19 March 2026 (2025 merchandise volume growth 4.6 percent; 2026 baseline 1.9 percent; high-energy-price case 1.4 percent; Hormuz traffic from 138 vessels a day to almost zero). World Trade Organization, Geneva. Observation year 2025. Accessed 2026-11-03.back
  15. 22China Briefing (ed.), How will China’s rare earth export controls impact industries and businesses? (April 2025 controls on seven elements; 9 October 2025 expansion to five more; suspended until 10 November 2026). Dezan Shira and Associates, Hong Kong. Observation year 2025. Accessed 2026-11-03.back
  16. 2UNCTAD (ed.), Stormy seas for global shipping: UNCTAD warns of uncertainty, volatility and rising costs (press release of 24 September 2025; 2025 volume growth 0.5 percent; port fees on certain vessels; alternative-fuel share 8 percent). United Nations Trade and Development, Geneva. Observation year 2025. Accessed 2026-11-03.back
  17. 45UNVERIFIED, not opened: US Trade Representative, Section 301 action on China’s targeted maritime, logistics and shipbuilding sectors, 2025 (port fees on certain vessels); the page returned an error and the measure is known here only from the UNCTAD press release cited as reference 2. Observation year 2025. Accessed 2026-11-03.back
  18. 38UNVERIFIED, not opened: Acemoglu, D., Carvalho, V.M., Ozdaglar, A. and Tahbaz-Salehi, A., The network origins of aggregate fluctuations, Econometrica 80(5), 1977 to 2016, 2012, cited from memory. Observation year 2012. Accessed 2026-11-03.back
  19. 39UNVERIFIED, not opened: Carvalho, V.M., Nirei, M., Saito, Y.U. and Tahbaz-Salehi, A., Supply chain disruptions: evidence from the Great East Japan Earthquake, Quarterly Journal of Economics 136(2), 1255 to 1321, 2021, cited from memory. Observation year 2021. Accessed 2026-11-03.back
  20. 40UNVERIFIED, not opened: Barrot, J.-N. and Sauvagnat, J., Input specificity and the propagation of idiosyncratic shocks in production networks, Quarterly Journal of Economics 131(3), 1543 to 1592, 2016, cited from memory. Observation year 2016. Accessed 2026-11-03.back
  21. 41UNVERIFIED, not opened: Baldwin, R. and Freeman, R., Risks and global supply chains: what we know and what we need to know, Annual Review of Economics 14, 153 to 180, 2022, cited from memory. Observation year 2022. Accessed 2026-11-03.back
  22. 42UNVERIFIED, not opened: Benigno, G., di Giovanni, J., Groen, J.J.J. and Noble, A.I., The Global Supply Chain Pressure Index: a new tool to measure supply chain disruptions, Federal Reserve Bank of New York, 2022, cited from memory; the index page returned no definition. Observation year 2022. Accessed 2026-11-03.back
  23. 43UNVERIFIED, not opened: Rodrigue, J.-P., The Geography of Transport Systems, 5th edition. Routledge, New York, 2020, cited from memory. Observation year 2020. Accessed 2026-11-03.back
  24. 1UNCTAD (ed.), Review of Maritime Transport 2025, chapter I: International maritime trade (12,720 million tons and 66,781 billion ton-miles in 2024; Cape detour about 30 percent; cobalt and copper concentration). United Nations Trade and Development, Geneva. Observation year 2024. Accessed 2026-11-03.back
  25. 4UNCTAD (ed.), Review of Maritime Transport 2024, chapter II: World shipping fleet and services (Suez Canal about 10 percent of maritime trade volume and 22 percent of container trade; Panama Canal about 3 percent). United Nations Trade and Development, Geneva. Observation year 2024. Accessed 2026-11-03.back
  26. 5UNCTAD (ed.), Hormuz disruption deepens global economic strain across trade, prices and finance (second rapid assessment; transits about 130 a day in February and 6 in March 2026; merchandise trade growth 1.5 to 2.5 percent projected for 2026). United Nations Trade and Development, Geneva. Observation year 2026. Accessed 2026-11-03.back
  27. 15WTO (ed.), World Trade Report 2026: A critical juncture for the world trading system (about 72 percent of merchandise trade on MFN terms). World Trade Organization, Geneva. Observation year 2025. Accessed 2026-11-03.back
  28. 17FAO (ed.), Strait of Hormuz crisis: FAO Director-General outlines risks, actions and policy responses (remarks to the 180th Council session, 28 April 2026; urea up 52 percent in the United States and 60 percent in Brazil by mid-April). Food and Agriculture Organization of the United Nations, Rome. Observation year 2026. Accessed 2026-11-03.back
  29. 7EIA (ed.), World Oil Transit Chokepoints (last updated 3 March 2026; 2024 total oil flows: Hormuz 20.7, Malacca 22.5, Suez and SUMED 4.8, Bab el-Mandeb 4.1, Cape of Good Hope 9.3 million barrels a day). US Energy Information Administration, Washington. Observation year 2024. Accessed 2026-11-03.back
  30. 46EIA (ed.), Short-Term Energy Outlook, September 2026, global oil markets (Brent averaged USD 91 a barrel in August 2026; Middle East crude oil production shut-ins from the Hormuz closure averaged 9.4 million barrels a day from March to June 2026 against February production of 25.2, and were 5.0 in July and 6.7 in August). US Energy Information Administration, Washington. Observation year 2026. Accessed 2026-11-03.back
  31. 10Panama Canal Authority (ed.), Panama Canal maintains operational and financial strength (press release of 8 October 2025; fiscal year 2025: 13,404 transits and 489.1 million CP/SUAB tons; preliminary and unaudited). Autoridad del Canal de Panama, Panama City. Observation year 2025. Accessed 2026-11-03.back
  32. 26UNVERIFIED, not opened: IEA (ed.), Global Critical Minerals Outlook 2026 (July 2026), taken only from the press article cited as reference 23; the IEA page returned an access error. International Energy Agency, Paris. Observation year 2025. Accessed 2026-11-03.back
  33. 27UNVERIFIED, not opened: USGS (ed.), Mineral Commodity Summaries 2026, rare earths chapter; the publication returned an access error and no figure is used. US Geological Survey, Reston. Observation year 2025. Accessed 2026-11-03.back
  34. 28UNVERIFIED, not opened: Semiconductor Industry Association and Boston Consulting Group, Strengthening the Global Semiconductor Supply Chain in an Uncertain Era, 2021, taken from search-result summaries that disagree on the Taiwan share; no figure is used in findings. Observation year 2021. Accessed 2026-11-03.back
  35. 6UNCTAD (ed.), initial assessment of the Strait of Hormuz disruption of 10 March 2026 (about one third of global seaborne fertiliser trade, about 16 million tonnes), as reported by a Pakistani daily newspaper; the UNCTAD text itself was not opened. Observation year 2026. Accessed 2026-11-03.back
  36. 23Investment Monitor (ed.), China rare earth curbs put USD 6.5 trillion of output at risk, article of 16 July 2026 reporting the IEA Global Critical Minerals Outlook 2026 (about 85 percent top-country rare earth refining share in 2025; investment down 9 percent in 2025); the IEA report itself was not opened. Observation year 2025. Accessed 2026-11-03.back

Cite this chapter

Valadbaygi, S. (Ed.). (2026). Chapter 6: Readings from the other desks. In Strategic Systems Report 2026: Global Supply Chains, Trade and Chokepoints (Baseline Edition 2026, Report No. NR-STRATEGIC-SUPPLYCHAINS-GLOBAL-2026-BASELINE) [Draft under review]. The Global Centre for Risk and Innovation (GCRI).

Every citation form of the whole report, BibTeX and RIS included, is on the edition home. Cite this report

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