What ‘Friend-Shoring’ Means for Trade in a Less-Friendly World

Over the past few years, the world has experienced an escalating series of trade disruptions — the US-China trade war, the Covid-19 pandemic and the supply-chain disruptions it caused, Russia’s invasion of Ukraine and the dueling sanctions and export controls that followed. Their cumulative impact has called into question the vision of a globalized economy. In response, some US officials are pushing “friend-shoring” — a happy-sounding label for a world divided between free-market democracies a

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