Geopolitical tensions are driving more multinational companies to signal plans for moving production into countries that are politically closer to their final markets, according to a European Central Bank survey.
The ECB found almost four times as many European multinationals said they would shift production to politically friendly countries — a phenomenon known as “friend-shoring” — as have done so in the past five years.
While 42 per cent of the 65 companies polled by the ECB claimed they would increasingly produce more in politically friendly markets, a higher number — 60 per cent — flagged that changes to their supply chains and production locations have pushed up prices over the past five years.
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