News Snapshot:
A Volkswagen assembly plant in Mexico, a country where an established manufacturing sector is anchored by the automotive industry. It is fashionable to talk of deglobalization again. More likely is a continuing reshuffling of trade flows that creates new geopolitical winners—if they are savvy enough to take advantage. Global trade took some big knocks in 2022. Russia’s commodity flows to Europe shrunk to a trickle. Lockdowns in China continued to disrupt supply chains. The Biden administration rolled out huge subsidies for making semiconductors and electric-vehicle batteries in the U.S.—industries now dominated by Asia. At the company level, following unrest in...
