The concept of selective deglobalization: Is there anything new in it?

Purpose The article investigates the process of a slowing globalization, also referred to as slowbalization or deglobalization. It aims to present changes in international supply chains in the context of deglobalization. Design/methodology/approach There are several factors that have particularly contested the sense and significance of globalization. They include the COVID-19 pandemic (characterized by lockdowns, closing borders and disrupting supply chains) and civilization challenges (aggravated after 2020), the most significant of which is the US–China trade war. Russia's invasion of Ukraine, combined with the imposition of economic sanctions on Russia, has changed the assumptions of the trade policy of Western countries, mostly the US tariffs, all of which have brought in the process of decoupling. Findings The article presents the fragmentation of supply chains and the relocation of industrial resources, along with a discussion of the accompanying causes, especially in relation to the Chinese economy. Practical implications The article designates the geopolitical, geographical and cultural dimensions of selective deglobalization. Originality/value Noticeably, deglobalization trends have been uneven over time, in various countries worldwide, and in relation to products/industries.