We are still in the early days of this maelstrom. The full impact is on its way.
I agree with Para377. The Great Depression ‘began’ in 1929 but it took four years before it bottomed in some countries, with many still flat at the start of WW2. Demand went off a cliff. Ever wonder why your grandparents or great grandparents never threw anything out and we’re constantly coming up with ways to repair the unrepairable? Back in the day they weren’t going to the pub to pay Rockpool prices or having a plumber come in to change washers. They were busy tightening their belts and making do.
It’s going to be unpalatable to many but eventually we will be best served by coming to terms with being the quarry and paddock for 1.7 billion eager customers. Put it to the voters.