Final answer:
The term 'renewal' does not specifically describe the return of business activity to the originating country; 'reshoring' or 'insourcing' are more accurate terms for this phenomenon. 'Renewal' generally refers to the act of revitalizing something that has lapsed or declined.
Step-by-step explanation:
The term 'renewal' has not been specifically created to describe the return of business activity to the originating country.
Rather, the process of moving jobs and industrial activity back to the originating country is commonly referred to as 'reshoring' or 'insourcing'.
The concept of renewal generally refers more broadly to the act of renewing or revitalizing something that has lapsed or declined.
The shift towards globalization and trade liberalization since the 1990s has indeed increased capital mobility, or the movement of money for the purpose of investment, production, or consumption.
However, this shift has also led to complex dynamics in domestic and global markets, for instance, modifying exchange rate regimes and impacting various stakeholders differently.
The term 'renewal' as a descriptor for business activity returning to a home country thus seems inaccurate and misleading in this context.