The first decade of this millennia will be known as the peak of globalisation.
Over the last few years it has been in decline due to reasons such as a sudden realisation of the over dependence on China for manufacturing and reduced trust in US when it comes to Internet and software. In some places like Europe the push has been centred around privacy while in places like India it has been driven by a need by authorities to have access to data that foreign agencies have.
The bureaucracy are doing a great job by marketing it as a way to ensure that people of country are not exploited by the videsi haath, while adding many responsibilities on local companies and the government of the land.
We have seen a push to localise manufacturing, data storage and payments to name a few over the last five years. Now we are entering the next phase where there will soon be an Indian govt sponsored version of Android store (may be even an iOS store?). While it is being suggested to push back against Google’s mandate to use their payment system, it can really back fire for companies here as it will be used as another way to get companies in line, lest they deviate from govt mandate.
While the move has its merits, I cannot see past the way it will be abused by the govt machinery.
What next I wonder? A complete ban on imports of certain items? Renewed interest in building full fledged local supply chain? Occupying foreign territory for resources that is required for this supply chain? Resulting confrontation? It’s happening already. In some ways, our future is same as our past and we are destined to repeat it; except with better technology and increasing destruction.
A what point will countries around the world step back?
Image credit: Johana Kroft, Idea & Maker, Maxim Kroft