Russia, China, Iran and their allies, by contrast, tend to use the term to describe a new world order in which they play a greater role, said Benedikter, who first heard “reglobalization” at a 2017 conference in Russia.
Since then, he said, the term has gained traction as the global supply chain has experienced shocks from the pandemic, Russia’s war on Ukraine and attacks by Houthi rebels on commercial ships in the Red Sea.
To Harold James, a Princeton economic historian, the term describes the constantly shifting relations in global trade.
“It’s a moment of bottlenecks and shortages,” he said, and that could ultimately lead to deeper ties between different sets of nations.
