Reshoring: Managing Risks and Building Resilience Closer to Home

June 14, 2024

When businesses relocate facilities from Asia to the U.S., further concerns emerge, including technology, talent andskills availability, and labor costs. “Access to required skills and technology is particularly relevant as it is not always easy to simply hireexperienced talent in the location that you want to build,” says Bhatt.“Therefore, having a talent assessment strategy becomes […]

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AI, reshoring and development

June 14, 2024

Globalization is a concept humanity has lived with for more than 2,000 years, and helped propel forward trade and industry in the last 200 years. But a combination of factors — from global pandemics to supply shocks brought about by conflict — are threatening to unwind millennia of development. According to Bank of America, the number […]

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Lawmakers, speakers spar over benefits of IRA’s manufacturing boom

June 13, 2024

Dive Brief: Dive Insight: “These offsetting subsidies create no new productive economic activity, they simply pad the profits of big, politically connected firms,” Michel said. “Congress might as well have lit a trillion dollars of taxpayer money on fire.” Michel advocated for Congress to repeal the tax subsidies included in the IRA and the CHIPS […]

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Five Key Challenges Facing U.S. Manufacturing

June 13, 2024

The U.S. is witnessing a manufacturing renaissance, with companies building new facilities at a record pace not seen in decades. Spending on new manufacturing construction rose to an annual rate of $114.7 billion in 2022, a staggering 40% increase year-over-year, and a 62% increase over the past five years, according to the U.S. Census Bureau. […]

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Government Role in Tackling Disruptions in Global Value Chains

June 12, 2024

Economists and businesses have been paying closer attention to the continued disruptions of Global Value Chains (GVCs) over the last three or four years. GVCs have been a fundamental aspect of the global economy for several decades, allowing countries to specialize in different stages of production, thereby increasing efficiency and reducing costs. GVCs have enabled […]

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S.Korea’s growing exports to US shouldn’t affect its trade with China

June 11, 2024

Illustration: Chen Xia/GTSouth Korea’s exports to the US surpassed those to China in the first five months of 2024, according to South Korea’s official data. If the trend continues, the US could become the top export destination for South Korea for the first time in 22 years, the Yonhap News Agency claimed on Monday. According […]

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Global Supply Chain at Risk of Another COVID-Like Meltdown, Says Author

June 11, 2024

By Paul Rhodes FOLLOW In his new book, How the World Ran Out of Everything, global economics correspondent for the New York Times, Peter S. Goodman investigated the worldwide shortages during COVID-19 and determined that the root causes started well before the pandemic. More resilience is needed in the global supply chain to prevent similar […]

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Friendshoring the Lithium-Ion Battery Supply Chain: Final Assembly and End Uses

June 11, 2024

The chief issue with LIB production is not supply shortages; rather, global production capacity vastly outmatches demand. As the United States intensifies its initiatives to bring back the LIB supply chain within its borders, it is becoming apparent that demand shortages may pose significant challenges for nations aiming to develop their homegrown industry. According to […]

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Powering the Future: EOS’s Fabian Alefeld on Additive Manufacturing

June 10, 2024

In the world of 3D printing, innovation is a constant. However, the industry faces a complex landscape marked by opportunities and challenges. In 2023, the global 3D printing market totaled $14.7 billion and is expected to intensify in 2024 and beyond, according to Additive Manufacturing Research. Yet, this expansion comes amid supply chain disruptions, fluctuating […]

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It’s a Good Time to Buy America

June 10, 2024

Editor’s Note: We’ve written in these pages before about the oncoming manufacturing boom in America… As artificial intelligence and robotics grow more advanced, we’ll see the resolution of a lot of the issues plaguing the manufacturing industry. Automation will take over the menial – and often dangerous – tasks that human workers won’t or can’t […]

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