Skip to content
Economics
Trade

World Trade Data Begin to Show Early Signs of ‘Reglobalization’

  • Vietnam, Mexico, India are among gainers at China’s expense
  • Trade-landscape transformation has started but will take years
A reach stacker moves a shipping container in the IPC Container Terminal at Tanjung Priok Port in Jakarta, Indonesia..

A reach stacker moves a shipping container in the IPC Container Terminal at Tanjung Priok Port in Jakarta, Indonesia..

Photographer: Dimas Ardian/Bloomberg
By

The global trading system is undergoing tectonic shifts that will reorient international supply chains for decades to come.

Blame two main forces. Companies spooked by pandemic shortages, price spikes and shipping disruptions are reducing reliances on a single factory or country. Meanwhile, governments — especially those in the US and Europe — want to ensure access to key materials like semiconductors and rare-earth minerals in case the world trade splinters into geopolitical blocs.