To globalise or not: Everything you need to know about friendshoring

In her visit to India last week, treasury secretary Janet Yellen said that the US is pursuing an approach called "friendshoring"

In her visit to India last week, US secretary of treasury Janet Yellen reiterated her country's stance of pushing for "friendshoring" to diversify away from countries that present geopolitical risk. She said that it was being done to minimise the supply chain vulnerabilities.

"For too long, countries around the world have been overly dependent on risky countries or a single source for critical inputs," Yellen said at a Microsoft event on November 11.

"The United States is pursuing an approach called 'friendshoring' to diversify away from countries that present geopolitical and security risks to our supply chain. To do so,