Deglobalizzazione o slowbalisation?

[Autom. eng. transl.] The global financial crisis of 2008, the recent shocks related to the pandemic and the war in Ukraine have represented a major obstacle to the globalization process, causing the public debate to start talking about deglobalization. The analysis of some statistics – in particular the trade in goods and services, the flows of Foreign Direct Investments and the stock of foreign financial assets/liabilities – shows that the reality is more complex than it seems: more than towards the beginning of deglobalization, the world seems to be heading towards a condition of slowbalisation. However, these statistics are unable to capture the fragilities due to hyperglobalization: the conflict between Russia and Ukraine is just the latest example of disruptions that have created strong disruptions along the Global Value Chains highlighting their poor resilience in the face of shocks. Hence the need for alternative solutions, aimed at relocating production to neighboring geographical areas (nearshoring), in politically "neighboring" countries (friendshoring) or within national borders (backshoring). However, it remains to be seen whether these are feasible solutions in the light of the ecological transition underway.