Amid rising tensions, ‘friendshoring’ might keep global trade alive

By Carlo Pietrobelli, Professor of Economics, UNESCO Chair, United Nations University
Michele Delera, Affiliated Researcher, UNU-MERIT, United Nations University
Nicolò Geri, PhD Candidate, Economics, Sapienza University of Rome

The world economy is at a crossroads. International trade is slowing, economic uncertainty is rising, and trade between the US and China – the world’s two largest economies – risks pulling apart. And it is not just trade: the two countries also invest less in each other than they did just a few years ago.

What is driving this reconfiguration of trade? For some large economies, including the US under President Donald Trump, a desire for greater…

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