Plans for reshoring and nearshoring of manufacturing won’t slow a globalized trade supply chain poised for more growth in 2023, according to a DHL study.
"This combination is attractive for trade partners," said Steve Altman, senior research scholar and director of the DHL Initiative on Globalization at NYU Stern."It means the country has the scale to keep up with its speed of growth."Emerging markets are importing more raw materials and adopting more technology in their race to attract more manufacturing deals and trade.
Pearson said even a few years ago it wasn't clear that the manufacturing shifts within emerging markets would take place under the concept referred to as"China + 1, +2, +3," but it is definitely occurring now,"in a gradual but consistent way," he said in a separate interview with"Squawk Box Europe" on Thursday.
"Trade is tied to GDP growth," Altman said."In a period of high inflation, what companies need to be doing is to be more efficient and manufacture at lower costs. Companies need to look for the best access around the world to achieve that." The short-term outlook in the U.S. as peak shipping season begins remain uncertain, according to Pearson.for its fiscal first quarter — scheduled to be reported next week — that was 33% below its previous guidance, citing operating costs and weaker global demand, and the shipper pulled its full year outlook.
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