Deglobalization is on. Commence the head-spinning of all mba's and biz students still wet behind the ears who have been chomping through theory after theory on the almighty-ness of globalization.
The basics:
There's also a greater appreciation on the part of Western firms that cheap labor isn't the be-all and end-all. Businesses have learned in the past two years that the longer the supply chain, the more possibilities there are for disruptions—from flu viruses, geopolitical disturbances, and spikes in energy prices. While China is still the world's factory, in an age of volatile demand, some companies have realized that manufacturing closer to home is more efficient, even if production costs are higher.
Cut out the 7000K production line that would make Alexander the Great blush and, voila, you have a local economy. Feels great to pay people who know, right?
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