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Reshoring: The Next Great Global Trend
There’s growing evidence that more and more companies are relocating production back home. What effects could this “reshoring” shift have on the global economy, and could it ultimately spark a manufacturing renaissance here in the United States?
Merrill Perspectives
As Americans continue to adjust to life during the coronavirus, a significant shift in the way companies manufacture their products is also gaining momentum. It’s called “reshoring” and it’s steadily reversing a multi-decade globalization trend, where companies moved their operations and supply chains overseas—notably to China. What forces are driving this new localization trend, and how might it affect our everyday lives?
In this episode of the Merrill Perspectives podcast, our hosts, Candace Browning, Chris Hyzy and Vikram Sahu, explore these questions. They explain why the global health crisis is actually accelerating the decision by many companies to move where they produce and source things back to their own shores.
They also look at potential risks, such as rising tensions with China and heightened market volatility as economies adjust to the changes. And they consider benefits reshoring could offer over the longer term here in the U.S., including a new wave of job creation, increased investment in areas like infrastructure and manufacturing, and the potential to help more disadvantaged communities gain greater access to economic opportunities.
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