Covid-19 means deglobalisation, inflation and the rise of the state

The Telegraph | Apr 7, 2020 at 4:57 AM
  • Fans of globalisation aren’t having a very good crisis.
  • Firms will be considering ways in which to repatriate or at least diversify their suppliers, as well as carrying much more inventory – even though this is less efficient by the standards of modern balance sheets – to weather weeks or even months of potential disruption.
  • As Jefferies’ chief economist David Owen points out, in contrast to the financial crisis, the money supply is currently accelerating and annual growth could reach 10pc by the end of the year.