So today, I decided to take apart a few of today’s news headlines to put into perspective a key reality: You often don’t appreciate the seismic scope of the shifts while you immersed in them.

I reference a few other videos in the clip. Here’s one I did a few weeks ago: “what’s the future of globalization? How will trade patterns and supply chains change as a result of what’s happened in the last year?” 

You are immersed in a pretty big trend right now.

The Chief Resilience Officer? It’s in this show:

Globalization? Here’s what we know:

  • it’s pretty clear that supply chains are broken: any discussion today is all about resilience, backup, multiple sourcing. Some companies have strategies in place that provide for triple or quadruple sourcing for product
  • Covid-19 didn’t just break them – it highlighted what was wrong with them – in that companies and nations did not build any sort of resilience into their global supply chains
  • fast trends highlighted this weakness: as the world rushed to online shopping, companies that were exposed were quickly exposed!
  • it has weaponized global trade: we saw this early on as nations locked down supplies with PPE, and we are seeing it now in real-time as countries block vaccine exports. This is a new fast trend with major implications
  • governments are finding new barriers: the pandemic provided a convenient opportunity to revive talk and action around protectionism
  • trust has been eroded: the impact of all of this is that global trust has broken down on a massive scale
  • damage must be fixed: expect this issue to be the focus of much corporate and global organizational discussion over years to come. G7 meetings will spend a lot of time on this issue, and companies will revise global trade contracts to better protect themselves
  • localization accelerates: countries and companies are obviously moving to produce locally when and where they can, but as I identify in the video, many have not addressed the skills and other issues that come with this
  • and so global trade patterns are forever transformed: we aren’t going back to where we were – we are only going to where we will be!

It’s not as though supply chains and global trade were already being transformed. Protectionist moves and the impact of the 2008-09 downturn were already dominating the trend:

  • global trade was already falling in 2019 due to global politics
  • and it was already falling as a result of the economic downturn of 2009
  • global supply chains ceased expanding after 2008!
  • it then shrunk by 9.2% through 2020

This is all pretty obvious – so what does it mean?

Upheaval, resilience, skills issues, and more!

Take this quote and pin it to your wall!







THE FUTURE BELONGS TO THOSE WHO ARE FAST features the best of the insight from Jim Carroll’s blog, in which he
covers issues related to creativity, innovation and future trends.