As we prepare for 2021, do we dare reflect on 2020? Given COVID-19 and political drama, we prefer NOT! There will be books and movies to tell the 2020 story, so we’ll let Hollywood take care of that. Instead, let’s look…
There's no shortage of articles that will opine about how tumultuous 2020 was for the economy, jobs, and industry as the world grappled with the impact of COVID-19 on business and daily life. However, there's reason to be optimistic, especially…
Beginning in the 1990s and accelerating after the inclusion of China in the World Trade Organization in 2001, many companies globalized their sourcing and production and embraced lean manufacturing techniques to reduce costs. As supply chains moved abroad, global trade jumped from…
The COVID-19 pandemic was supposed to put the final nail in the coffin of globalization and prompt a retreat into a new era of protectionism. Instead, some are now calling the crisis the Great Accelerator. The drop in international commerce…
Geneva: The Covid-19 pandemic was supposed to put the final nail in the coffin of globalization and prompt a retreat into a new era of protectionism. Instead, some are now calling the crisis the Great Accelerator. The drop in international commerce…
A decoupling of economic and political ties between the US and China is likely to be one of the most important drivers of financial markets in the emerging world during the next decade. Ever since Donald Trump swept to power…
Reshoring continues to be strong in 2020 despite the pandemic and because of it, said the Reshoring Initiative in its latest report. US reshoring is outpacing foreign-direct investment (FDI) this year for the first time since 2014, as COVID-caused uncertainty is…
At a recent Site Selectors Guild webinar, several of the nation's top site selectors shared their perspectives on the future of office projects and other topics in a post-COVID world. EDCUtah's business development team compiled the following summary to share…
Potential Governmental Role in Accelerating Reshoring Some U.S. firms are already reshoring without any government support. A large-scale reshoring, however, may require the government to subsidize part of the capital expenditure (“capex”) of relocating, as well as the higher cost…
For decades, labor cost differences have been a primary influence in the continuous shift of manufacturing production from the U.S. to China. In 1980, the cost of labor in the U.S. was more than 30 times of that in China.…
The U.S. lost 3.4 million manufacturing jobs between 2000 and 2007, and a further 1.5 million between 2007 and 2016 — much of them to offshoring. More recently, however, factors such as the Trump administration’s trade policies, increased risk and disruption…
Harold James has been writing about globalization, and its oft-expected demise, for the better part of 40 years. The economic historian at Princeton University has examined the effects of financial crises old and new, from the Great Depression of the…
This year has presented manufacturing businesses with a major challenge of pivoting and adapting to the Covid-19 pandemic. During the summer of 2020, Citrin Cooperman surveyed over 200 manufacturing and distribution companies throughout the U.S. to take a pulse of…
Reshoring is currently the ultimate trend. The Dutch brand Secrid, inventor of the Cardprotector, is an expert in that field. ‘We have had almost all the parts produced in the Netherlands right from the very start”, says co-founder René van Geer.…
The United Nations Conference on Trade and Development (UNCTAD) has issued its Review of Maritime Transport 2020 report. Contained in the 146-page publication, UNCTAD is projecting the volume of international maritime trade will fall by 4.1% in 2020, recovering next…
Written by George Y. Gonzalez and Jesus Alcocer, Haynes and Boone The COVID-19 pandemic has exposed the weaknesses of supply chains on which nearly half of the population relies on for life-saving medication. Countries have enforced restrictions on the flow of…
Tariffs and supply chain disruption from COVID-19 prompted many businesses to consider bringing their supply chains back to North America, which is good news for American manufacturers. U.S. companies rushed to offshore manufacturing activities to low-cost labor hubs like China…
In recent years, geopolitical and economic trends have been encouraging pharmaceutical drug manufacturers to shift their active pharmaceutical ingredient (API) sourcing and physical manufacturing plants onto domestic soil or near-shore locations. This has been a gradually turning tide that accelerated…
![30% Of Manufacturing Companies Plan To Increase Localization Within 6 Months [Report]](https://reshoringinstitute.org/wp-content/uploads/2020/11/750px-2.png)
Ever since the ongoing COVID-19 pandemic began to shut down factories and disrupt supply chain operations throughout North America and Europe beginning in March of this year, reshoring has been one of the hottest topics in manufacturing. While there was…
NILES, Ohio – Faults in the international supply weaknesses exposed by the coronavirus pandemic could lead reshoring by U.S. companies, a First National Bank economist said Thursday. At the Youngstown/Warren Regional Chamber’s Economic Forecast Breakfast, Ahmed El Nokali said the…