Practice question · Match the pairs
Match each trade term to its meaning.
- Global value chain
- Re-shoring
- Friend-shoring
- Trade in tasks
- Bringing production back to the home country
- Each country adds a step, not a whole product
- Moving supply chains to allied countries
- Production stages spread across countries
Hints
- The vocabulary concerns chains, relocation and stages of production.
- One term names bringing production back closer to home.
Show the answer
- Global value chain → Production stages spread across countries
- Re-shoring → Bringing production back to the home country
- Friend-shoring → Moving supply chains to allied countries
- Trade in tasks → Each country adds a step, not a whole product
Why
The vocabulary of 21st-century trade, chains, re-routing, and the shift from products to tasks.
Practise The Second Globalization
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