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While internationalization remains one of the main growth engines for the majority of companies, disruptions to the global environment have called into question the globalization of value chains and undermined the localization strategies of companies. Understanding the various concepts, the debates in progress, and their impact is essential to avoid the risk of “de-internationalization.” The models, strategies, and geographies of “localization” must therefore be renewed and rethought, in order to integrate internationalization as a factor of resilience and not as an offshoring process. Capitalizing on regional strategies in growth areas such as Southeast Asia therefore offers a strategic internationalization alternative for French SMEs.