In July, former Vice President Joseph R. Biden Jr. presented an economic strategy to “rebuild domestic manufacturing capacity,” restoring local supply chains from semiconductors to pharmaceuticals. In September he added a tax penalty to the plan, aimed at companies that move jobs to other countries, alongside a tax credit for businesses that bring them home. “There is a common concern, which the Trump candidacy forced a lot of people to think harder about,” said Jared Bernstein, a former top economic adviser to Mr. Biden who is informally advising his presidential campaign. And that is “the extent to which globalization has left significant swaths of people in many different communities behind.”These common understandings could reshape the global economy. “We would have to have some deglobalization for this to work.”

Source: New York Times September 28, 2020 18:03 UTC