There are many reasons for these tensions.17 One is that globalisation displaces local employment opportunities, and even entire industries, to other parts of the world. This has been a factor in the rise of nationalism, which threatens to disrupt international trade and cooperation. Anticipating the effect of global trade on local industry and preparing the local workforce accordingly may help to mitigate some of the most serious disruptions.
Another problem, highlighted by the covid crisis, is the fragility of supply chains.18 Governments and industries are developing ways to strengthen these chains in the short term; the Internet of Things is set to play an important role in monitoring where products came from and how far they travel, for example, and blockchain technology will help to secure this information, making trade more transparent.19 In the longer term, this transparency will make supply chains more sustainable too. The new focus on resilience also places greater emphasis on stress testing supply chains and on simulations that can predict — and find ways to avoid — the impact of future covid-scale events.