The COVID-19 pandemic has not only affected the global supply chains, but also prompted the developed economies to seek ways to consolidate their technological, industrial and economic advantages.

As economic globalization is encountering resistance, it is likely that international trade and investment will revert to a form of “limited globalization“.

Although China bears the brunt of the United States’ strategy of moving US enterprises’ overseas operations back home, many other countries and regions as well as relevant US companies will also sustain their share of losses in this politically driven move.

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