The
recent uptick in international reshoring demonstrates the universality of
reshoring logic: it makes sense to produce near the consumer. Other countries
are finding different avenues of focus in their reshoring efforts, which we can
learn from. See some examples below.
UK
Reshoring
One major trajectory of the trend is the expansion of
international reshoring efforts. We recently compared notes with Janice Munday, Director,
Advanced Manufacturing and Services (BIS) and Co-Chair of ReshoreUK, and
Richard Colley, Reshoring and Business Investment, Department for Business,
Innovation & Skills (BIS). BIS reports to the Secretary of State of
the U.K. The U.K. faces many of the same reshoring issues that we do in
the U.S., but appears to be taking a more proactive approach to bringing work
back. A joint government, industry team, the Automotive Council has identified £3 billion/year of potential reshoring in the U.K.,
significantly due to supply chain gaps. A concerted effort is underway to
address this opportunity. In the U.S. the government‘s reshoring efforts
are primarily being implemented at the state level, missing the benefits of a
national effort.
Relevant
speeches on the subject include:
We do not know
of any U.S. government officials with a similar aggressive focus on
reshoring. We urge the U.S. to match the U.K.’s commitment to economic growth via reshoring.
Eurozone Summary:
Taiwanese manufacturers and others reshoring from China:
The United States should make re-shoring a national initiative,. However with the biggest companies now multinational and large political donors this will be unlikely.
ReplyDelete