Deglobalization and REGIONALIZATION

Globalization increased after WWII, accelerating to hyperglobalization in the 1990s and 2000s. The financial crisis in 2008slowed downthis trend, and various disruptors of the last few years are causing ashift towards deglobalization. Supply chain challenges during the COVID-19 pandemic resulted in increased onshoring (domestic outsourcing instead of offshoring) activities. In addition, the war in Ukraine, ideological differences between governments, and differing sustainability approaches are spurring the trend toward rethinking external dependencies, redefining trusted partners, and reframing what resilience looks like.