Global supply chain is filled with both risks and opportunities. In this dynamic arena, seemingly minor occurrences can set off cascading reactions. Over the past 15 years since China’s entry into the WTO, the Sino–U.S. relations remained relatively stable, and global supply chain globalization reached unprecedented heights until recent challenges emerged. This chapter will delve into significant supply chain disruption events of recent years, such as the Thai floods, the Fukushima nuclear disaster and COVID-19. These incidents have left profound impacts on the global supply chain landscape. We will also explore the rise of geopolitical tensions and economic nationalism, exemplified by events like the U.S.–China trade war, and their far-reaching challenges and impacts on the global supply chain. Amidst these challenges, opportunities emerge. Businesses and governments, in response to these changes, must reassess and reshape their supply chain structures, aiming for a more diversified, resilient, and stable supply chain system to bolster their capacity to withstand future risks.