reindustrialization

Reindustrialization is the economic, social, and political process of organizing national resources for the purpose of reestablishing industries in response to deindustrialization.

==Interpretations== China, India, and Southeast Asia were industrial powerhouses for major parts of human history. These countries and regions suffered great loss of industrial production due to Industrial Age colonization. After many decades of independence, these countries have started reindustrializing themselves. In the last three decades, the share of these countries in global industrial output has increased manyfold. In context of declining share of OECD in world GDP and outsourcing of manufacturing and services, reindustrialization is considered as a contrast to deindustrialization, the process under which industry, especially manufacturing, is relocated outside of a country's borders, and seeks to reverse that trend. No longer the preserve of BRIC (Brazil, Russia, India, and China) or Southeast Asian countries, the notion of reindustrialization seems to be making inroads in the political discourse of populist policy makers in the developed economies of Western Europe and North America, notably France and the United States, where the rise of Trumponomics may potentially challenge some of the free trade tenets of the neoliberal "Washington Consensus". In 2021, French President Emmanuel Macron revealed a 30-billion euro plan to "revitalize and reindustrailize" France by focusing on green energy, the semiconductor industry, and the medicine industry. In his speech, Macron highlighted the need to develop the neglected French industry to a decarbonised and efficient model.