What do subprime mortgages, Atlantic salmon dinners, SUVs and globalization all have in common? They depend on cheap oil.
According to economist and author Jeff Rubin, we are poised on the brink of massive change. Systems of trade, finance, shipping and manufacturing, and labor and international relations are all about to be rearranged. Get ready for a new world-one in which domestic manufacturing will be reinvigorated and the products and services we still enjoy will start coming from places much closer to home.
There will be winners as well as losers when the age of globalization comes to an end. Distance will soon cost money, and so will burning carbon-both will bring long-lost jobs back home.
Mr. Rubin was the chief economist at CIBC World Markets for almost 20 years. To replay the discussion, click on the live blog box below. Mobile viewers will want to click here.
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