Coombs wrote:
Mirth wrote:
De-globalisation may not happen across the board but you already have industries that have less globalised supply chains than others. Following this pandemic, I would expect healthcare and pharmaceuticals to be one of them. Secondly, pretty much every pan-national body is coming under fire, it's only a matter of time that they're scrutinized.
Those bodies are not globalizing forces, but a (regulatory) response to globalization. Their existence and failure is basically proof that de-globalization is not really a thing.
Spot on. The EU tottering with nations on the brink of exit would largely be an opportunity for influence by multinational capital and for extra profit by way of labour arbitrage across more instrumented borders.
Supply chain risk management, and the renewed emphasis on insurance and contractual protections against this kind of tail risk will amount to more interdependency and not less. The emergence of a new, more mature and resilient framework for global capital.
What we're seeing in this farrago of "de-globalisation" is something like the false idea that Brexit would result in a stop to guest worker programmes, writ large.
