The Globe and Mail reports in its Wednesday, Sept. 11, edition that Bank of Canada Governor Tiff Macklem warned on Tuesday about changing global trade patterns potentially leading to increased inflation. The Globe's Mark Rendell writes that Mr. Macklem cautioned against using national-security concerns to justify protectionism and highlighted the transformation of international trade due to geopolitical tensions, digital technology and China's shift to advanced technology production. This transformation presents both opportunities and risks for businesses and governments, particularly for central bankers aiming to control inflation. "Going forward, with globalization slowing, the cost of global goods may not decline to the same degree. All things equal, this could put more upward pressure on inflation," Mr. Macklem said, adding that "trade disruptions may also increase the variability of inflation." He added: "Trade restrictions increased sharply around the world starting in about 2018. So did industrial policy to bolster domestic players against imports and respond to security concerns. Security risks are real and need to be addressed, but it is important they not become a pretext for inefficient protectionism."