Given that through the entire pandemic I've been buying a steady stream of products from all over the world with only the briefest of delays in service...I don't see it.
The supply chain disruption has been US and UK specific, and has very obvious causes specific to those countries - no one else is really having issues.
I can certainly see some supply chain disruptions in Germany. For example, in the supermarket, there's always something out of stock that you need. But it's a minor inconvenience, nothing more than that. Just a few items. But I don't remember worrying about things being out of stock, ever.
In South Africa we've seen _some_ disruption too, but the immediate effects have been limited from a consumer perspective.
What I find most impressive is how resilient the overall system is in spite of the many disruptions.
I recently read a book (by Mark O'Connell) about how some groups predicted ever-imminent apocalypse and social collapse. The book was released shortly before the pandemic and tellingly one of the themes presented (not as the author's view, but as a view in some prepper communities) was that a global pandemic would lead a total collapse of the supply chain and then we would become feral and play out Mad Max etc.
While global supply chain issues have led to some shortages (some more serious than others and some more protracted than others) there is so much that is still working. That's something to celebrate IMHO.
I share your sentiment that the supply chain crisis seems somewhat exaggerated by media, however for some specific merchandise it exists. For example, it's been 9 months since I ordered a new mountain bike and it still hasn't arrived. Similar situation with new cars and motorcycles (0 stock, at least 3-6 months lead time). However, it doesn't seem plausible to me that parts shortages are due to decreased production from China. If the (Google/World bank) GDP graph is to be trusted, China's GDP only slowed down its growth rate, but never went down during the crisis (contrary to the US). So to me it looks like the supply chain crisis in the west was somewhat manufactured (even though I don't know by whom and for what reason).
It's not just parts (in fact I saw a claim in /r/cycling that the warehouses have plenty of stock), it's also shipping those parts to distributors/bike builders that's an issue. Plenty of stories about how the ports are absolutely backed up.
The supply chain disruption has been US and UK specific, and has very obvious causes specific to those countries - no one else is really having issues.