As tensions between the United States and China continue reshaping the global economy, economists and policymakers are increasingly focusing on a new concept that could define the next era of international trade: “friendshoring”.
Rather than bringing manufacturing fully back home, countries and multinational corporations may instead shift production and investment toward politically friendly nations.
A new analysis published by The Conversation argues that friendshoring may allow globalization to continue in a different form, even as trade between the world’s two largest economies becomes more strained. [Read more…] about ‘Friendshoring’ could become the next phase of globalization