WebApr 21, 2024 · Friend-shoring. Secretary Yellen’s remarks of April 13, 2024 spoke of “friend-shoring” – a commitment to work with countries that “have strong adherence to a set of norms and values about how to operate in the global economy and about how to run the global economic system.”. Friend-shoring is not new. A 2024 White House Report … WebApr 13, 2024 · Favoring the friend-shoring of supply chains to a large number of trusted countries, so we can continue to securely extend market access, will lower the risks to our economy as well as to our trusted trade partners. We should also consider building a network of plurilateral trade arrangements to incorporate elements of the modern …
What Is ‘Friendshoring’? - The New York Times
WebDec 1, 2024 · Blend of friend + offshoring. Noun . friendshoring (uncountable) (business, economics, politics, diplomacy) The process of moving production to diplomatically friendly or allied foreign locations which have lower production costs. Hypernyms doesn\\u0027t 6z
Explained: What is friendshoring and will it stop the disruption of ...
Friendshoring can potentially lead to more expensive products if countries depart from areas with low production costs. Economists have also suggested that friendshoring can potentially lead to supply shocks and lower growth over time. Raghuram Rajan, former governor of the Reserve Bank of India, is critical of the "friend-shoring" development, voicing concerns about its impact on global free and fair trade. If a developing cou… WebJun 8, 2024 · Ally-shoring is one significant tool to speed our economic recovery and help realize the president’s pledge of a “foreign policy for the middle class.”. Rethinking our domestic industrial ... WebNov 17, 2024 · Friend-shoring or ally-shoring has become a means for the US to influence firms to move their sourcing and manufacturing sites to friendly shores—often … doesn\\u0027t 7a