The European Commissioner for Economy, Paolo Gentiloni, believes that geopolitical factors, such as the Covid-19 pandemic and the energy crisis caused by Russia’s aggression in Ukraine, coupled with the need to secure raw materials and disruptive technologies, are reshaping globalisation through the creation of “variable geometry alliances” depending on the sectors and partners involved.
“We can expect to see more re-shoring, near-shoring and perhaps what some call friend-shoring”,...