I have worked for a multi national for the last 14 years and in that time I have lived and worked all over the world out sourcing our factories and production from the UK and Western Europe to Russia, China and eastern europe. The costs of Oil will have an effect on on globalisation however once you factor in all the local tax breakes low wages and low land prices to build the factories on the UK will not get this work of manufacturing back any time soon.
I now spend over 1/3 of the year in Russia and I can tell you they are not just after our manufacturing work but also all our R&D, design and banking business as well. I find the work ethics and education of people in Eastern Europe and Russia a lot higher than in the UK and yes I am quite proud of all the work I have done to transfer business to these places and feel really proud when I see new members of staff I have hired in Russia getting on and raising there living standards. In these countried you are rewarded for hard work, in the Uk you are not your just rewarded for sitting on your back side.
I actually plan on bailing out of the UK in the next few years as we have now more or less moved all our manufacturing over seas and i will have a higher standard of living and much better work life balance than you get in the UK now.