The most common and most likely answer to this crossword clue is the 9 letter word RECOILING
I've seen this crossword clue in Financial Times
R
E
C
O
I
L
I
N
G
Buddy explains!
The straight part
We know that "Shrinking away from" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case shrinking away from = recoiling.The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.
What does RECOILING mean?
RECOILING verb- To pull back, especially in disgust, horror or astonishment.
- To retreat before an opponent.
- To retire, withdraw.
- (of a firearm) To quickly push back when fired
- The act of something that recoils.