2024-05-08 03:17:26 ET
Summary
- Reshoring, or bringing manufacturing back to the West, is becoming a trend as companies face challenges in China.
- The US saw a significant increase in manufacturing jobs brought back and new jobs created by foreign companies investing in Q3 2022.
- The deployment of humanoid robots in manufacturing is gaining traction, with optimistic projections for the robotics market by 2030.
Preamble
For decades, the West's manufacturing base headed east with the enthusiasm of a banker selling mortgage-backed securities to the Greeks. China, with its wide-open arms and bargain-basement labor costs, became the go-to country to knock out everything from sneakers to smartphones.
In particular, the labor costs for factory workers in China are exceptionally low. A typical worker producing the latest iPhone in Shenzhen would not earn enough to keep the average US worker in jam donuts, chicken nuggets and prosecco....
Read the full article on Seeking Alpha
For further details see:
Tesla's Optimus To The Rescue