I don’t think the current state of globalisation can last. It won’t be complete deglobalisation either.
I think we’d see the world market divided in two. It’s already starting with semi conductors (chip 4 alliance).
For some key industries US will also bring some of the manufacturing in house instead of only relying on allies. Again you are already seeing this with semi conductors: US is bringing manufacturing to its own soil and South Korea has already made some raw material processing domestic instead of relying on cheaper global market.
I think we’d see the world market divided in two. It’s already starting with semi conductors (chip 4 alliance).
For some key industries US will also bring some of the manufacturing in house instead of only relying on allies. Again you are already seeing this with semi conductors: US is bringing manufacturing to its own soil and South Korea has already made some raw material processing domestic instead of relying on cheaper global market.