Reshaping the map: Friendshoring in Asia
- 17 October 2023 (10 min read)
Key points
- Globalisation, characterised by the rapid flow of goods, services and capital across international borders, is at a crossroads
- Recent geopolitical events have prompted a reconsideration of globalisation's trajectory
- Many nations are contemplating decoupling from any partners deemed unfriendly, giving rise to two new trends – friendshoring and nearshoring
- The future of friendshoring in Asia depends on sustained economic integration, good governance and the ability to attract foreign investments
- Given the ongoing tension between China and the US, Asian countries are likely to continue expanding capabilities further solidifying their role in the global manufacturing hub, potentially increasing the region’s long-term investment appeal
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