Well, it wasn't really all that sudden if you are a student of history or have lived long enough.

"Suddenly," thanks to Russia, globalization is taking a back seat to security and safety. If you want to engage in trade with Russia or the Ukraine, you now have to determine not only logistics, but how to handle the financial transaction. Convertible currencies and seamless logistics no longer cover the world.

Forty years ago, I remember the CEO of the company that employed me would not let us buy equipment from a certain company in a distant country, for that country was "aligned with the communists" and the company was state-owned. Since then, we have drifted away from what we thought until last week were such arcane and laughable views.

We were sobered up last week. There are countries and country leaders who will behave well only when they are required to do so. When they can show their true intent, they will.

As one of the earliest global industries (oil predates us, but not much else), it is important for the financial security of our companies as well as the safety of our employees deployed to distant lands that we are not too pollyannish in our view of the world.

Additionally, we, the world of pulp and paper, may have other issues to face in the not-too-distant future, depending on the progression of the Ukrainian War and its aftermath. The two companies which most of the world depends on for paper machines are headquartered in Finland and Germany, countries not far from the central thoughts of the Russian leader. Should matters turn towards the most disastrous outcome of all, roughly 90% of the world's most modern paper machines will be left orphaned from a technology and spare parts standpoint. Something to think about.

As President Reagan said, "Trust, but verify" in all of our business transactions.

Jim Thompson is CEO of Paperitalo Publications.