“Right now, I’m a little angry. I don’t want to invest in American companies,” says Joanna Goodman, owner of Au Lit Fine Linens, a Toronto-based bedding and nightwear company.
“It’s about having your eggs in one basket. And right now, that basket is very reckless and very precarious,” she continues.
From Houthi attacks in the Red Sea, to the Ukraine war, global events in recent years have given rise to a more recent phenomenon – reshoring.
Bringing business operations back to home shores, it is the reversal of offshoring.
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I hope so. Domestic production and consumption leads to a healthy economy which, as we’ve all learned in recent weeks, is a critical matter of security as well. Relying on another country for manufacturing may save on some costs but means that country has leverage on you.
We need to start manifacturing electronics
I’m all for saving Canadian auto industry. It is an economic pillar people are used to. It’s easy with export tariffs that make US auto manufacturing, materials, energy, agriculture too expensive until tariffs are removed. But making China willing to sell us cheap electronics is smarter than hating China. or making a small scale industry here.
We do but it’s all high end custom ordered stuff for military, space or auto applications. Consumer stuff disappeared around the sitcom boom when JDS, Norte, and others folded or were bought out. Only blackberry is left and it’s mostly from China?
It’s certainly bringing tourism home.
Stupid question to ask after two weeks of this shit.
China is the only place that can get a factory from idea to production in two weeks, and that’s because they’ve got a massive factory manufacturing infrastructure (and are notorious for cutting corners).
It’s going to be 3-6 months before manufacturing of basic stuff will start to be brought back in-house. In the meantime, we’ll forge new supply chain relationships with other suppliers in other countries - more than one, hopefully.
It’s going to be 3-6 months before manufacturing of basic stuff will start to be brought back in-house.
True.
But if an existing factory happens to have some unused capacity, re-tooling to make a similar product that wasn’t previously economically viable to make might be a fairly quick possibility.
Are you going to ask a stupid question? Or just state clear facts?
Probably not. Most businesses moved their manufacturing to countries where local laws do not protect workers as well as Canada, that hasn’t changed.
