Shipping away globalization

Here's another argument that globalization is hitting a snag with peak oil. Grist focuses on air and ocean travel, noting that the world's not so flat now:

The cost of shipping a 40 foot container from Shanghai to the east coast of North America has gone from $3,000 in 2000 to $8,000 because of the cost of fuel, and for many products, the Asian cost advantage has virtually disappeared.

(via Bruce Sterling)