Capitalism will be able to survive without the exploitation of foreign workers. The deterioration of supply chains led to "a newfound urgency for local sourcing, particularly when it comes to vital medical equipment such as ventilators and supplies of masks and gloves. No one cares any more which country holds comparative advantage in producing medical equipment. You can rest assured that once the pandemic is over, Canada, along with every other country that can afford to do so, will want to become self-reliant in masks and ventilators no matter how much more it costs to produce them at home instead of importing them from some cheap labour market abroad." The shortcomings of capitalism and of our reliance on supply chains have made self-reliance more attractive to businesses than ever before.
In addition, companies are less likely to continue exploiting foreign workers given our current political and social climate. For example, popular clothing retailer H&M has recently been criticized for refusing to pay its workers in Bangladesh: "The Bangladesh RMG [ready made garment] industry is the backbone of its economy, accounting for over 80% of the country’s exports. It competes successfully on price, operating at large volumes with small margins per unit. It also has some of the world’s cheapest labour, with the legal minimum monthly salary for garment workers being TK8,000 (around $96). This has left factories, garment workers and the country devastatingly exposed, with no indication of when they will receive future orders or payments."
Companies are growing more aware of the fact that their consumers are always scrutinizing them, and are less likely to tolerate unethical business practices. The refusal to pay workers in Bangladesh resulted in calls for boycotts of H&M, as well as several other fast-fashion brands such as Primark or Shein. Appeasing consumers and maintaining an ethical reputation is now more important to many businesses in the long run because failing to remain ethical could result in a loss of income. As a result, companies are now more likely to become self-reliant and engage in sustainable, domestic manufacturing because it will help them earn more money as more consumers make the educated decision to support their brand. Although this is different from how businesses usually operate and may result in prices going up, it will not result in the end of capitalism. It can be argued that an increase in domestic manufacturing will actually create jobs and further strengthen capitalism and its institutions.