What is “friendshoring”?
Western policymakers want to move supply chains to friendly countries
AT THEIR ANNUAL gathering in Jackson Hole last week the world’s central bankers talked, among other things, about the threat of deglobalisation. Christine Lagarde, president of the European Central Bank (ECB), noted that the governments of Western countries are increasingly adopting industrial policies that promote “friendshoring” of strategic industries. This, and related terms like “nearshoring”, “derisking” and “decoupling” (mainly from China), are in vogue among economic policymakers. What is friendshoring?
The Economist explains September 2nd 2023
From the September 2nd 2023 edition
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