There are growing numbers of government and business leaders in the USA, Europe, and Australia warning of threats to their countries in emergencies due to excessive dependence on China. A Google search for "Dependence on overseas for critical supplies" resulted in pages of results going back for several years.
There are concerns about serious consequences for strategic needs, and also serious consequences for the economy. On a small scale, as I have warned readers of my sourcing and importing book, if they have all of their eggs in one basket, they risk being stranded.
The current situation seems to be bringing these concerns to the fore, mostly regarding strategic issues, but some even warn that if pharmaceutical and medical equipment was withheld countries such as the USA could encounter a national health disaster of massive proportions. A small taste of this possibility has occurred during the Covid 19 pandemic, with China rationing supplies at their whim.
I believe that the wider economy has suffered as a result of sending manufacturing offshore at a huge level. Profits for Western importers, including those big names who have shut down their local manufacturing, have increased enormously. Profits for many big retailers have reached obscene levels through bargaining with Chinese manufacturers who will produce to whatever low quality they must in order to get the business.
The acceptance of low quality was highlighted to me when I saw a retail clothing store proudly advertising a guarantee that their clothes will last 100 days!
The military is waking up to the folly of reliance on potential adversaries for critical supplies. Risks to the power grid have been recognized, with the
staggering possibility of a nationwide blackout that will last until overseas suppliers can (or will?) deliver equipment needed to start the nation running again. Just think, no water, no sewerage treatment, no refrigeration, no power to run factories, because the country has put itself at the mercy of foreign powers.
The point of my question in the subject heading is:
Will manufacturers learn a wider lesson from the present situation which left health workers with inadequate personal protection and insufficient equipment?
Will manufacturing in general see a resurgence?
I believe there will be a revival of manufacturing, but not necessarily through lessons learned. There will be a lot of catching up to do to fill the gaps left because of the shutting down of businesses during the isolation period. This is why I started my thread on Is Covid 19 the time to Surge Ahead? From replies there I get the impression that many members at least will be preparing for that.
Walter
There are concerns about serious consequences for strategic needs, and also serious consequences for the economy. On a small scale, as I have warned readers of my sourcing and importing book, if they have all of their eggs in one basket, they risk being stranded.
The current situation seems to be bringing these concerns to the fore, mostly regarding strategic issues, but some even warn that if pharmaceutical and medical equipment was withheld countries such as the USA could encounter a national health disaster of massive proportions. A small taste of this possibility has occurred during the Covid 19 pandemic, with China rationing supplies at their whim.
I believe that the wider economy has suffered as a result of sending manufacturing offshore at a huge level. Profits for Western importers, including those big names who have shut down their local manufacturing, have increased enormously. Profits for many big retailers have reached obscene levels through bargaining with Chinese manufacturers who will produce to whatever low quality they must in order to get the business.
The acceptance of low quality was highlighted to me when I saw a retail clothing store proudly advertising a guarantee that their clothes will last 100 days!
The military is waking up to the folly of reliance on potential adversaries for critical supplies. Risks to the power grid have been recognized, with the
staggering possibility of a nationwide blackout that will last until overseas suppliers can (or will?) deliver equipment needed to start the nation running again. Just think, no water, no sewerage treatment, no refrigeration, no power to run factories, because the country has put itself at the mercy of foreign powers.
The point of my question in the subject heading is:
Will manufacturers learn a wider lesson from the present situation which left health workers with inadequate personal protection and insufficient equipment?
Will manufacturing in general see a resurgence?
I believe there will be a revival of manufacturing, but not necessarily through lessons learned. There will be a lot of catching up to do to fill the gaps left because of the shutting down of businesses during the isolation period. This is why I started my thread on Is Covid 19 the time to Surge Ahead? From replies there I get the impression that many members at least will be preparing for that.
Walter
Dislike ads? Become a Fastlane member:
Subscribe today and surround yourself with winners and millionaire mentors, not those broke friends who only want to drink beer and play video games. :-)
Membership Required: Upgrade to Expose Nearly 1,000,000 Posts
Ready to Unleash the Millionaire Entrepreneur in You?
Become a member of the Fastlane Forum, the private community founded by best-selling author and multi-millionaire entrepreneur MJ DeMarco. Since 2007, MJ DeMarco has poured his heart and soul into the Fastlane Forum, helping entrepreneurs reclaim their time, win their financial freedom, and live their best life.
With more than 39,000 posts packed with insights, strategies, and advice, you’re not just a member—you’re stepping into MJ’s inner-circle, a place where you’ll never be left alone.
Become a member and gain immediate access to...
- Active Community: Ever join a community only to find it DEAD? Not at Fastlane! As you can see from our home page, life-changing content is posted dozens of times daily.
- Exclusive Insights: Direct access to MJ DeMarco’s daily contributions and wisdom.
- Powerful Networking Opportunities: Connect with a diverse group of successful entrepreneurs who can offer mentorship, collaboration, and opportunities.
- Proven Strategies: Learn from the best in the business, with actionable advice and strategies that can accelerate your success.
"You are the average of the five people you surround yourself with the most..."
Who are you surrounding yourself with? Surround yourself with millionaire success. Join Fastlane today!
Join Today
