Coronavirus May Lead to Reshoring in Global Manufacturing
China accounted for almost 40 percent of manufacturing in 2019 and with coronavirus locking the country down, global supply chains and manufacturing have been impacted significantly. As the virus spreads, many manufacturers and suppliers continue to operate below normal capacity.
In the long term, Euromonitor International expects a greater share of production moving from China to other Asian countries and to Europe and North America. However, in order to successfully reshore production, companies must be capable of tracking their entire supply chains.