Resilience Over Efficiency: The Global Shift Reshaping Industrial Policy and Trade

This report, prepared by DWS Investment GmbH’s Global Research team, examines the accelerating transition from globalization to national resilience and its long-term implications for markets and investors.

• Governments are prioritizing domestic production and strategic autonomy, with the U.S. leading through tariffs, subsidies, and local content mandates.

• The resulting “moderate deglobalization” raises costs but enhances supply security and political stability.

• Investors must assess how industrial policy realignment alters competitive dynamics and valuation frameworks across sectors.

Explore the full report for a deeper analysis of resilience strategies and investment positioning in a deglobalizing world.