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Why global manufacturing is shifting to reshoring and nearshoring
Offshoring (decentralizing operations in different, cheaper countries) has been the norm for manufacturing companies for decades. Asian countries have been chosen the most, thanks to the low-budget labor and large-scale production capabilities. Yet in recent years, reshoring and nearshoring have emerged as compelling alternatives , reshaping global supply chains and offering new opportunities to countries, companies and workers.
What’s the problem with offshoring?During the COVID-19 pandemic, the difficulties of a completely offshore-relying strategy have emerged. For months and...