What will a Post Covid-19 world look like? - Protectionism (self-reliance)

We increasingly rely on long supply chains where material, parts, and finished goods travel from across the world before arriving to the consumer.

Closed borders and xenophobia have restricted the free flow of people and goods.

Current inflation is being blamed primarily on Supply chain interruptions.

Woods (2021) uses the example of a small businesses' struggles with Supply chain interruptions to explore what this means for globalization.

Will this create increased self-reliance?

Will the perceived need to rely on local resources, mean an increase in local production?

Will interstate and international trade suffer?

References:

Woods, D. (2021). The Pandemic Makes Globalization Harder. THE INDICATOR FROM PLANET MONEY. https://www.npr.org/transcripts/1054091162