I think that is one of the questions of the moment. The Covid-19 crisis has shown that globalization was founded only on economic reasons, and when social problems have arisen in different states, the logistics of supplies of materials have been broken.
Globalization was based on the efficiency of the “market”, concentrating the manufacturing of products in the most efficient places (the cheapest), and generating a logistics supply chain that was based on the same parameters. Fundamentally cheap prices.
When problems have arisen, each country (especially the most powerful ones) has tried to ensure the supply of the necessary medical devices and has left the global market in short supply, exposing the failures of the established system.
Because when there are problems, the economic factor is not the most important, but the factor of security of supply. And the cost is considered later.
So I think globalization is going to change. I believe that globalization based only on markets will evolve into another globalization based on the security and well-being of citizens.
Cost is important, yes, but it is not always the most important thing.
This new “system” will make situations more complex and logistics more complicated, but also much more resistant to unexpected problems. And it is more than possible that many products are somewhat more expensive to obtain.
Welcome, if their supply is more reliable.
In these new relationships, information and transparency will be very important, since only with clear information can accurate decisions being made for the majority of people.
The change will be difficult and will be full of incidents that will have to be resolved, without neglecting the objective of the well-being of citizens.
Hopefully we will change it as soon as possible.