Reshoring, tariffs, and industrial policy. Chips, batteries, pharmaceuticals, and defence pulled back onshore or to allies by subsidy and tariff.
Scaling Compounding now. Evidence is visible in company results and data. Largest effect expected 2022–2035.
Second-order effects
Higher goods prices for households at every phase; a construction and industrial-equipment boom; a labour shortage in the trades that makes vocational training the best-paid credential; retaliation risk for exporters; a permanent inflation floor the Fed must live with.
Its neighbourhood
Everything this entry connects to directly. Click any point to follow it.
Frictions it intensifies
These pressures get worse, or reach more people.
Solutions it accelerates
Solutions it threatens
Sectors it reshapes
How to track it
If this trend is real, these are the numbers that will show it first.