There’s no doubt about it: The reshoring trend is rocking global business, with hundreds of companies working to bring their manufacturing operations back from China to North America.
There are many factors fueling this move, including labor costs, transportation, quality issues and patriotism, among others. Hal Sirkin, a senior partner at Boston Consulting Group, has been examining this trend for years and admits that the recent surge in reshoring has shocked even experts and researchers. Knowledge at Wharton sat down with Sirkin to discuss the different elements contributing to the reshoring trend and how it affects global business dynamics, the labor market and even the U.S.-Mexico relationship.