In total, 70 per cent of the 209 companies surveyed believe that the re-shoring of production back to the UK will accelerate in response to an industrial strategy, with three per cent saying it would make no difference to prospects for reshoring. These findings are among a range of forecast benefits from such a strategy, […]
Reshoring News
This bipartisan consensus reflects a growing trend among economists and experts, who are now revising the unfettered free-trade and laissez-faire attitudes that defined U.S. economic policymaking for decades. As President Joe Biden’s National Security Advisor Jake Sullivan and co-author Jennifer Harris noted in a recent op-ed, “advocating for industrial policy—broadly speaking, government actions aimed at […]
“Production costs in so-called low-pay countries have increased and over time approached EU levels. That is true, particularly for manufacturing with high levels of automation, such as advanced manufacturing processes in electronics production or the production of medical technology and pharmaceuticals. “In those cases, wage cost differences are so small that there are no longer […]
In 2004, the last US producer of sebacic acid closed its plant in Ohio, a victim of low-priced competition from China. US production of salicylic acid ended a few years later, ushered out by declining demand for aspirin, a major derivative. Now, with funding from the US Department of Defense (DOD), a midsize company called […]
Geographic proximity to industrial centers is crucial in this strategy. Thus, several Latin American countries are emerging as prime destinations for nearshoring. The Inter-American Development Bank (IDB) estimates that nearshoring could boost annual exports of goods and services in Latin America and the Caribbean by close to $78 billion in the medium term. The automotive, […]
Oz is a magical place. However, if you find yourself caught between two warring witches, you might start quickly seeking the shelter of home. The Wonderful Wizard of Oz: Whether you watched the movie or read the book, you know that story. And, if you’re part of the manufacturing industry, you’re currently living it. Offshoring […]
Supply chain executives of Fortune 500 companies are witnessing a significant shift in global manufacturing: production is increasingly returning to North America, driven by a combination of economic, geopolitical, technological and environmental factors. In 2023, Mexico overtook China to become the largest trading partner of the United States (Figure 1), accounting for 15.7% of total […]
(Bloomberg) — The French government is looking at options including taking a public stake in the consumer health business that Sanofi is in talks to sell to US buyout firm Clayton Dubilier & Rice to protect jobs and production in France. CD&R is nearing the purchase of a 50% controlling stake in the unit after […]
Ørsted and Salt River Project (SRP) celebrated the official commencement of the Eleven Mile Solar Center, a 300-MW solar project and 300-MW/1,200-MWh battery energy storage system (BESS) in Pinal County. The project is part of Ørsted’s $20 billion dollar investment in building out American energy generation. Eleven Mile Solar Center is SRP’s largest co-located solar […]
KUALA LUMPUR, Oct 10 — Malaysia has become increasingly attractive to foreign investors due to several factors, including the country’s political stability and track record in exercising fiscal responsibility, said UBS Global Research. It said Malaysia’s competitiveness in the electrical and electronics (E&E) sector, as well as energy policies leading to net zero targets are […]
