Covering the Costs of Globalization

Jan 20, 2015 | 10:00 GMT

Global supply chains will likely become more localized over the next decade as transportation costs rise.

(Daniel Berehulak/Getty Images)

The export-based economic model that we now take for granted depends on supply chains. The growth of many global powers is directly correlated with the global growth in maritime trade, which has increased by almost 160 percent since 2000. The ability to acquire goods from a staggering number of suppliers in vastly different locations, frequently referred to as globalization, has only recently become possible, in large part because of technological advancements....

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