Slowbalization refers to the deceleration of globalization, characterized by a slowdown in cross-border flows of goods, capital, and people, particularly after the 2007-2008 financial crisis. Instead of complete deglobalization, the world is shifting towards a more fragmented, regionalized economy with a focus on resilience and security, leading to regional trade agreements and a partial technological decoupling, particularly between the US and China.

Key Characteristics

• Slowing Growth: Global trade, capital, and people flows are growing at a much slower rate than before the 2008 financial crisis.
• Regionalization: There's a trend towards more localized trade and supply chains, with countries forming regional alliances rather than participating in one large global market.
• Increased Focus on Resilience: Events like the COVID-19 pandemic and geopolitical tensions have highlighted the need for stronger and more secure supply chains.
• Technological Decoupling: Countries are investing in their own high-tech industries, leading to a partial separation from certain global tech networks, especially evident in US-China relations.
• Shift in Focus: There's a growing emphasis on intangible areas of globalization, like data flows and services, while tangible trade sees slower growth.

Causes and Influencing Factors

• Global Financial Crisis (2007-2008): This event is often cited as the starting point of slowbalization, with global trade growth declining significantly thereafter.
• Geopolitical Tensions: Rising geopolitical tensions and weakening political support for open trade have contributed to the slowdown.
• Technological Advancements: The rapid dissemination of technology and information has also influenced the changing dynamics of global integration.
• Nationalism and Protectionism: An increased focus on national interests and economic security has led to policies that slow down global integration.

Impacts

• Supply Chain Restructuring: Supply chains are becoming more fragmented and regionalized, with countries like Mexico, India, and Vietnam potentially benefiting from this shift.
• Diverging Economic Models: The trend toward slowbalization signals a move away from deep economic interdependence towards a multipolar world with multiple economic centers.

Keywords: production chains, supply chains, friendshoring, reshoring, activism, points

Português: desaceleração da globalização

https://scholar.google.com/scholar?hl=pt-BR&as_sdt=0%2C5&q=slowbalization+%22supply+chains%22&btnG=

-- GregorioIvanoff - 06 Apr 2025
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