The false promise of friendshoring
America, China and Europe appear to be trading less with their geopolitical rivals
Each year the 193 member states of the United Nations General Assembly vote on dozens of resolutions, earnestly setting the world to rights. Last month, for example, they voted in favour of reducing space threats, eradicating rural poverty and combating dust storms, among other things. The votes count for little. The assembly’s resolutions are not legally binding. Its budgetary powers are small. And it has as many military divisions as the pope.
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This article appeared in the Finance & economics section of the print edition under the headline “Opening gambit”
Finance & economics January 27th 2024
- Wall Street titans are betting big on insurers. What could go wrong?
- Investors may be getting the Federal Reserve wrong, again
- What Donald Trump can learn from the Big Mac index
- Why sweet treats are increasingly expensive
- How American states squeeze athletes (and remote workers)
- As China’s markets suffer, what alternatives do investors have?
- The false promise of friendshoring
From the January 27th 2024 edition
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