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“Ever since the Covid-19 pandemic struck, people have been predicting that it will cause nations to turn inward—to de-globalize, decouple from other nations, and reshore production of vital goods”
Comment: This started after 9/11, 2008 and more so during Trump.
“At the end of his essay Williamson acknowledges that world trade in goods and services, which had grown for decades, has stalled at just over 60% since 2008, while inflows of foreign direct investment have fallen by almost half since their 2007 peak. But he echoes McKinsey & Co. in arguing that cross-border transmission of knowledge and data has continued to grow at a rapid clip. Such flows used to occur inside multinational corporations but they have become more widely available, which is “eroding” the advantage of multinationals over other companies, he writes. In other words, globalization isn’t dead. ”
Comment:
Wishful thinking. Sorry masters planners of the financial universe, the Y2k, Dot Com bust, Then the Recession in 2001, Then the Arabs blasted you when you were down, and they tried to over ride it all with low rates, no down payments real estate Home Depot boom lasted to 2008.
Now we don’t even have to borrow the stupid money. They force it on us. It comes in the mail or direct deposits. When will they give us free motor homes and small boats to enjoy life? See the USA in your Chevrolet. With Chrome Bumpers and nothing under the hood but a motor. And be able to change the plugs points and condenser at the Drag Strip.
I’m so glad I was born early enough to catch the good ole days.
https://www.bloomberg.com/news/articles/2021-03-23/talk-of-de-globalization-is-fashionable-but-wrong