The Globalization era is over? Part 2

http://whatmatters.mckinseydigital.com/the_debate_zone/will-globalization-be-derailed-by-the-world-financial-crisis

Back to my globalization question I discovered an amazing discussion today! Definitely worth reading through.

The breakdown has created a political impasse. State rescues of entire banking systems are a necessary and inevitable response to the financial meltdown, but the consequence will be to try to limit banking to national units. Italian taxpayers will not want to see their money used to bail out remote eastern European debtors. The same political logic applies for fiscal stimulus packages, where voters will not want to see foreign producers in effect subsidized.

When I was speaking about the end of globalization I was considering only corporate movements towards shorter Supply Chain, turnaround into insourcing instead of outsourcing (after all those talks about rising labour costs in China). I totally missed the political importance and impact of strong international ties.... Well, though that all seems true, I am reminded of another discussion topic I had a couple of days ago at the round table hold by Cranfield School of Management together with TiasNimbas University: in order to get out of this crunch coordinated measures with a very strong leadership should ba taken on a GLOBAL scale. That is why G-20 hold a meeting in London. That is why governments are trying their best to solve the problem altogether. Shouldn't it on the other hand strengthen our the politcial and financial ties?

Forget all the bankers, traders and politicians! I mean, they are not everything in the world. Companies are still looking for new outsourcing destinations (Mexico and Northen Africa are newest hot spots), though that is something I mostly disagree with. Many consultancy companies still bet on the international talents pool model. Internet continues to connect processes, people and objects all over the planet.

Indeed, the ability of any government to shield its economy and society from outside influences and dangers has steadily eroded in the past two decades. That’s because the current wave of globalization has unprecedented characteristics. As Internet access penetrates the most remote corners of the globe, it is touching more people in more places more cheaply than ever before. It allows Vietnamese artisans to peddle their handicrafts in Europe and South African teenagers to share music files with peers in Scotland and religious leaders to preach to believers across oceans. 

Another interesting idea I grabbed from the discussion is "virtual globalization". Indeed, with all available communication and media tools, who want to spend thousands flying forth and back? 

Will labour outsourcing be replaced by business processes outsourcing? Good option?

New hit on the market?

Will India be the next China?

Your ideas?