No, globalisation is already on the way out.
The cost of transport fuels and rising labour costs in Asia are causing
the return of manufacturing to the original countries.
Examples of this are steel making and furniture making.
Lower cost bulky products are the first to return due to the escalating
cost of container transport. Asian refineries are cutting back on
heavier products such as bunker fuel and ships are purchasing diesel
/bunker fuel mixes.
There are significant shortages of diesel in Asia.

As the world economies wind down international trade will also decrease.
Everything will eventually become local.

An aside, last year I purchased a lounge for my son and I asked the
salesman/manager where it was manufactured, he said in Sydney.
I asked about the rest of the furniture in the shop.
His reply, everything except that table over there are Australian made.

Our problem will be cranking up our local manufacturing.
Fortunately, it won't happen overnight, but it will happen.

Well Rhrosty, yet another reason to get some of the pretty yellow metal, & bury it in the garden. Bet they can't change the colour of that.

A very well informed and cogent post BAZZ!
Wages inflation in China is currently running at around 20% PA.
And fuel is just going to become more expensive, as we transit through peak oil and a Govt resolutely determined to do nothing to change anything!
Everything that trundles along our highways, byways and railways, require fuel; as does every tractor or harvester, that are used in the mass production of food.
And given population increases develop largely as predicted, the demand for food can only increase exponentially, with a forecast additional demand of around 80% by 2050!?
Were I running the country, and collecting an additional 100 billion plus PA, I would commence to build an inland shipping canal forthwith.
Shipping remains the least costly way to move bulk freight, with rail following a close second overland.
Therefore, the ships plying the new inland shipping canal, would be purpose built, roll on roll off, nuclear powered ferries.
Moreover, they would also be submersible, so as to avoid worsening weather conditions and brigands in small boats!?
Buried ag pipes wrapped in membrane filters, would allow some of this gravity fed water, to support various forms of agriculture, thanks to the better than pumps ability, of some plants to draw massive quantities of water.
Salt, drought and frost tolerant native wisteria, is a soil improving legume that fixes nitrogen, has a very deep taproot, and being a perennial, produces crops of high protein, oil rich beans, for up to 7 years, before being needing replacing.
The oil is eminently suitable as bio-diesel, and the ex-crush material, would support various forms of highly profitable feed-lotting or fish farms.
If some or all of that agriculture takes place under glass, most of the pristine evaporate can be collected and reused for any other purpose, including progressive reafforestation of an arid inland?
Which if done on a large enough scale, would eventually begin to recharge weather systems and spread monsoonal weather systems, progressively further and further south!
Thereby allowing us to produce more, increasingly valuable commodities, for our free trade markets.
Rhrosty.

Ah Hasbeen, never heard of white gold then, which I understand may be an amalgam of platinum and gold?
In any event, and given its use as a catalyst, and or, as an inert refractory material, even rarer platinum, is likely to outperform gold, as a hedge against inflation.
Moreover, metal detectors tuned to detect gold, might well miss platinum, which might make it a safer option to bury in any backyard.
My paternal Grandfather allegedly buried 10,00 golden coins somewhere on the family farm?
Thus far, hordes of fee paying prospectors, some equipped with the very latest in metal detecting gear, have failed to find it?
Rhrosty.

Now that we are now subject to having our bank deposits confiscated as
I think Australia signed the 11th November 2010 G20 agreement;

http://tinyurl.com/d2hzjrn

I have wondered what I should do if things looked dodgy.
Is gold really the best move to make ?
After all no one can eat gold.
Would land be a better option ?
At least you could grow food on it.

Here are the critical bits out of the article linked above;

Next, in Seoul 2010, “G20 leaders endorsed this framework and the timelines and processes for its implementation.”

That framework is set out in the FSB’s “Key Attributes of Effective Resolution Regimes for Financial Institutions” (pdf).

On the 11th November 2010 the G20 conference in Seoul agreed to a document that set up
the procedure to seize the funds of depositors amoungst others.

Preamble

The objective of an effective resolution regime is to make feasible the resolution of financial
institutions without severe systemic disruption and without exposing taxpayers to loss, while
protecting vital economic functions through mechanisms that make it possible for
shareholders, secured and unsecured creditors to absorb losses in a manner that respects
the hyrachy of claims in liquidation.

What is of serious concern though, is its power to “transfer or sell assets and liabilities,
legal rights and obligations, including deposit liabilities and ownership in shares,
to a solvent third party,” … without consent -

Under General Resolution Powers

Paragraph 3.2 vi states

Transfer and sell assets and liabilities, legal rights and obligations. including
deposit liabilities and ownership in shares, to a solvent third party,
notwithstanding any requirement for consent or novitation that would otherwise
apply (see key attribute 3.3);

>->
The question is, has Australia agreed to or indeed ratified this G20 agreement.
It would appear that this agreement is the basis for the recent Canadian legislation.

It seems diabolical to me and changes the meaning and perception of banking.

Bazz if we are talking very bad, land is only any good if you can hold it. That would mean guns, & people who can use them.

If governments decide to take your bank deposits & super, why would they not feel free to take your title to any land that might be "YOURS".

I am really only thinking in terms of the Cyprus situation where you lose access to your money, or the US where money printing is diminishing the value of any bank holding with inflation. In each instance your gold is not only in hand & available, but appreciating at very least at inflation rate.

Should law & order really break down, you'd better be poor. Gold, land, food or anything else would make you too attractive a target.

When money is short, everything becomes very cheap. If I was in Cyprus right now I would be looking for the fire sales of some very nice cars & boats. If no one has money they can get at, they will be worth practically nothing.

The first time I went cruising in the yacht, I found many people who had loaded their boats with the best sporting equipment. Some had run out of cash, & were practically giving this stuff away for eating money. The next time I had cash, & bought great scuba gear, an underwater camera, top shotgun, & a new outboard, all stuff I could never justify at new price, for about 15 cents in the dollar.

Even if you can't eat gold, I reckon if you have it, it will make finding food much easier.