Global supply chains are potentially facing "the mother of all supply chain stumbles" should the omicron linked COVID-19 variant spread rapidly across Asia, economists at HSBC Bank said in a newly released report.

Digital Event: Navigating the Shipping Crisis
Join top experts in the seafood, shipping and logistics sector on Feb. 17 as they discuss the outlook for 2022.

Asian production networks, which have so far shown impressive resilience, may be thrown into a funk as omicron grips the region at a time when western supply chains show flickering signs of easing, HSBC Co-head of Economics Research Frederic Neumann said.