This is one of those conversations that hints around the edges of what the collapse of globalism actually entails. As noted in the beginning of the WEF panel discussion by Christine Legarde, the construct of global economics was built upon a foundation of interdependent trade dependencies. If nations are no longer reliant upon other nations for sourcing of goods and services, the global construct of banking and finance then begins to collapse.
Globalism in its economic construct is a series of dependencies. If those dependencies are severed, if each country has the ability to feed, produce and innovate independently, then the entire dependency model around globalism collapses.
Within the globalism model that was historically created there was a group of people, western nations, banks, finance and various government leaders, who controlled the organization and rules of the trade dependencies. The action being taken for self-sufficiency, in combination with the approach promoted by President Trump that each nation state should generate their own needs, then the rules-based order that has existed for global trade will collapse.
If nations are no longer dependent, they become sovereign – able to exist without the need for support from other nations and systems. If nations are indeed sovereign, then globalism is no longer needed and a threat of the unknown rises. How will nations engage with each other if there is no governing body of western elites to make the rules for engagement? The need for control is a reaction to fear, and it is the fear of self-reliance that permeates the elitist class within the control structures.
Global trade is now beyond goods and services and into the world of automated artificial intelligence. Legarde notes the tech sector wants/needs access to more global data in order to create the control systems of tomorrow. However, again the problem arises when sovereign nations refuse to dump their independent data into the bucket of data dependency.
If each nation of the world is operating according to its individual best interests, the position of Donald Trump, then what happens to the governing elite who set up the system of interdependencies. This is the core of their fear.
If each nation can suddenly grow tea, what happens to the East India Tea Company. Who then sets the price for the tea, and worse still an entire distribution system (ships, ports, exchanges, banks, etc.) becomes functionally obsolescent.
