Freight has the advantage that it often doesn't care if it arrives 6 hours late or has to wait around a bunch. That means that we can hit maximal loads nicely. Businesses also tend to pre-plan (at least the ones that do well) so that they can take advantages of the efficiencies offered by going slower.
Passenger transportation just isn't as efficient and would seem to be under a greater squeeze. Even if you go by Amtrak's rail service, to transport a tonne of humans (assuming the average North American body weight of 80.7kg) would use 80x as much fuel as transporting a tonne of freight.
Getting back to freight, a lot of the world's goods are transported by freight truck over land. Freight trucks use 2,426kJ per tonne-kilometer. So, something coming from China over water to the Western US would use considerably less fuel than something from New York trying to get to the Western US. It's under 8,000mi from China to SF and (as the crow flys) 2,500mi from New York to SF. If water-borne transit is 10x more efficient, goods from China still have a fuel advantage over freight truck.
If anything, we'd see the end of freight trucks before we saw the end of globalization. Something coming from China to the Western US and then onto New York by rail would likely use less fuel than something coming from the Western US to New York by fright truck.
I guess I just see freight trucking and passenger trips ending considerably sooner than the water-borne and rail transit that would enable globalization to continue.