I have to wonder if deglobalization and expensive onshoring is as much of herd mentality as glocalization and offshoring have been. Sure, if the no college white males of the US get their demographic last hurrah and elect a populist isolationist who pulls America out of NATO, then, yeah, it's bad times for a rational set of international interdependencies.

Or, if the Taiwan and Korean foundries are the best on the planet, everyone should contribute to the international stability it takes to maintain access to those resources. Almost every part of the tech industry benefits from global low-friction trade.

Brexit regret is a solid majority opinion in the UK. The US recently lowered trade barriers to solar panels from China. Hopefully sanity prevails. While it is possible to overdo the offshoring and JIT inventories, increased trade volume makes everyone more prosperous.