Some intriguing insights by @Allianz's CEA - @elerianm:
COVID-19 comes as the third major shock to deglobalisation in just 10 years.

The first shock came from the housing sector, there was a pushback against the extent to which globalisation had alienated and marginalised certain segments of population. Correct response was to make globalisation more inclusive.

The second shock came in 2017-18 with the China-US trade war, which was more of a government led shock to deglobalisation.

Now we have this third shock coming from all three sectors. The corporate sector will have to join since we see significant shift as more value is prescribed to resilience than efficiency.

Efficiency in terms of - investory management, cost-effective supply chains, and in favour of localisation of supply chains to make the system more resilient.