This book analyses the possible regionalization of global value chains, particularly in manufacturing. Amidst calls for an industrial renaissance in Europe and a resurgence of manufacturing jobs in the United States, the dynamics of global value chains have been reshaped by global pandemics, geopolitical tensions, and increased automation. Employing a multi-regional input-output model, the book scrutinizes the decline in offshoring afer the mid-2010s. It sheds light on regionalization as a pivotal force redefining global markets, and focuses on Europe and North America, revealing the strengthening of regional ties. Discussing future challenges, the book will appeal to scholars, students, and researchers, as well as practitioners and policy-makers interested in a better understanding of (de)globalization nuances connected to the evolving role of manufacturing in global value chains.