Lloyd’s Loading List (LLL) reports:
Rising numbers of businesses seeking to shift their production activities from China to closer to home in the wake of the COVID-19 pandemic and growing geopolitical tensions could face costs of up to US$1 trillion over a five-year period, according to new research from Bank of America (BofA).
The US bank said the outlay was “significant but not prohibitive”, arguing that the re-shoring move would have beneficial effects …
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Source: The Loadstar