
James A. Dorn
Traditional American manufacturing activities are slowly returning from overseas. Whether the decisions to do so were initially based on rising costs abroad, the need to react quicker to American consumer demands or other reasons, many U.S. manufacturers are experiencing more benefits than initially considered. Here is a look at what it takes to drive the reshoring trend ahead and what companies can gain from these efforts.
Markets that are suitable for manufacturing alone will never compete effectively in today's global, knowledge-based economy. That's why Malaysia's leadership embarked in 2010 on its Economic Transformation Programme, which aims to elevate the country to high-income status by 2020. It will do this chiefly through implementing 12 National Key Economic Areas (11 critical industry sectors and the Greater Kuala Lumpur area) that contribute significantly to national income and by making Malaysia more competitive through Strategic Reform Initiatives with policies that support the country's commercial environment and global competitiveness.
SPECIAL REPORT—As the United States becomes an ever-greater energy producer, Russia, Saudi Arabia, Venezuela, and other relatively large energy producing countries will be negatively impacted. And with decreasing U.S. dependency on Middle Eastern oil, China, now the world’s largest consumer of energy, will become more influential there. But the biggest impact will be on the United States, which stands to significantly benefit in terms of economic growth, manufacturing output and corporate competitiveness.
Various international organizations, including the World Trade Organization (WTO), United Nations and the Organization for Co-operation and Development (OECD) are sounding the alarm over what appears to be a sharp increase in protectionism around the world. These rising barriers to trade result, in part, in less global business, slower economic growth, and poor job gains. They also weaken the global economic recovery. What is the impact on your business?
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