If the global system has low fault tolerance, we're in for a very rough ride. Perhaps even a multi-year shutdown of civilization as we know it. In the days of World War II, America was relatively isolated. The network of specialization was much smaller, and therefore, more fault tolerant. Everybody knows the fewer pieces you have in an engine, the less likely it is to fail.
Simplicity leads to reliability.
Complexity results in a low fault tolerance. Today, the manufacturing base of America is nearly extinct, and the supply lines for building products stretch across oceans, involving a half-dozen countries for parts. It's been driven by economics, by specialization, by efficient ocean-going transports and air deliveries. International banks allow the moving of funds from buyer to seller, through trusted international clearinghouse networks. That's the debate, that's the big question.