In addition, cost-push pressures are also created by halts in global value chains, the lack of logistics capacity and the shortage of some raw materials, which – in conditions of stepped-up demand in the wake of the opening of most economies – leads to higher inflation rates in almost all countries and upward revisions of their projections.
"8 I think his observation explains why not enough attention was given to Mill’s advice about “free trade plus compensation". We are at risk of a backlash against international trade because leaders in some countries have not been able to give convincing answers to those who have seen their standard of living decline, either due to free trade or due to technology.