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A new report from GlobalData has outlined a shift in US and Chinese priorities, marking the end of the golden era of globalization. The report highlights the impact of the rivalry between the two countries, which has led to a trade war and escalating tariffs. As a result, both countries are now turning to domestic markets to strengthen their economies and secure their supply chains. The report also emphasizes the need for retailers to build supply chain resilience by diversifying and shortening supply chains closer to their customer and product bases. Despite the challenges, this shift is seen as a necessary step to minimize the impact of future supply chain disruptions and additional costs to consumers.
