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What Does De-Globalization Mean?
The demographic aging we've seen in recent decades means that that second piece is just completely gone. And countries are increasingly finding in their best interest to kind of hoard what consumption they do have and not allow trade access to it. As long as that is the case, we can get regional transport breakdowns that from our point of view don't affect us. But from everyone else's point of view, it's a bit of a disaster.