Nearshoring — North America’s Next Factory
1 Mar 2023
The 2020 crisis, compared to the 2008 crisis, had a different impact on the world’s economy and greatly disturbed global supply chains by affecting the three major factory regions: China, Europe, and North America. The crisis initially hit the factories in China, where the COVID-19 pandemic started, then spread to Europe and eventually to North America. The pandemic intensified the ongoing obstruction in global supply chains by making evident their fragility due to their very extensive geographical scope and the difficulties in managing the problem, leading to the relocation of investments in different parts of the world.