The meme triggered thought

Even though I created this meme for a memechallenge however look at it from a business situation.
With lock downs practically the whole world business scene is facing a terrible crisis.

Businesses are facing tremendous pressure. The supply chains are under pressure and getting disruptive.
A lot of this is due to global businesses

Businesses now a days are not localized to one geography.
They are spread to different parts of the world.

Even local businesses are may need parts, supplies or may be dependent on another region or part of the world.
Think about it?

So what can be do?
Develop local economies like islands?
Islands that are self sufficient and independent. Is this even possible ?