Yes, the author focuses on a possible shortage of resources as the cause of the problem, but the Forester effect certainly played a decisive role in the case of the chip shortage.
Anyway, we live in a very fragile civilization, and we have to shorten the supply chains or we will have big problems in the future.
I wonder if there are any predictors of who will do better when things destabilize, for example does vertical integration provide a strong advantage? If so what is the tipping point, how much vertical integration is needed?