Re-Shoring, Near-Shoring, Friend-Shoring

In Globalisation we have seen the movement of companies from the country of their origin to other countries in search of cheap labour, resources and, market. But now as its aftermath due to war, disputes, pandemics we are seeing disruption in supply chain; and also the labour cost is increasing in developing countries because of which the cost of production is increasing and profitability is decreasing - which was the prime reason for establishing these companies away from their native state.

Now the concept of Re-Shoring, Near- Shoring and Ally-Shoring is emerging as a replacement to the problem caused by the disrupted supply chain, declining profits and strategic threats.

Re-Shoring or On-Shoring is re-movement of the companies to their native state; Near-Shoring is the relocation of these companies to the states near to the origin state of the company and, Friend-Shoring or Ally-Shoring is the reestablishment of the companies in the states which are friendly ( politically+ economically) to the company's native state.

World Trade Organisation has sighted a downfall in Global GDP due to the implementation of these concepts and in general economists are also against such executions.

Though there is no constant world order but after an uninterrupted era of Globalisation a new dimension is taking place where each country is keeping their socio-political-economical-cultural mathematics at centre stage.