The “Made in China” era may be coming to an end, as costs and wages in China substantially rise and manufacturing moves back to the United States. In March, activity in China’s manufacturing sectors has hit an 11-month low as new orders shrank for consecutive months. The Chinese manufacturing cost advantage gap is very minimal compared to what it was 10 years ago.
Today, the United States is producing more jobs at the fastest pace since the 1990s. According to The Reshoring Initiative, an estimated 50,000 jobs have moved back over the last three years. American companies, like Apple and General Motors, are reinvesting their money back into the U.S. economy by building new production plants across the country.
For a closer look at the changing economic trends, check out this infographic created by Pepperdine University's Graziadio School of Business and Management. We thank Austin Andersen at Circa Interactive SEO for providing the information and infographic.