Lunch Bunch Book Club: Noon Monday, May Memorial Library, 342 S. Spring St., Burlington. This month's selection is Angie Thomas' "The Hate U Give." For more details, call 336-229-3588.Monday Make & Take: 3 p.m. Monday, Graham Public Library, 211 S. Main St., Graham. For children of all ages. This week's craft is constellation art. For more details, call 336-570-6730.African-American Historical and Genealogical Society presents Genealogy ? How To Use Resources Available: 6 p.m. Monday,
From an office in Tijuana, Mexico, Roberto Durazo has been capitalising on one of the biggest shifts in global trade since the end of the cold war. « data-reactid=»18«>From an office in Tijuana, Mexico, Roberto Durazo has been capitalising on one of the biggest shifts in global trade since the end of the cold war. Operating in what is known as the »shelter industry«, firms like Ivemsa help international companies operate in Mexico without having to maintain a legal entity. » The post-1990 trend towards globalisation was driven by the integration of cheap labour from emerging markets such as China, India and former Soviet Union bloc nations into the world economy. This benefit was eroded as these low-cost hubs developed and their factory workers demanded better compensation. A McKinsey Global Institute study, released this year, found that «low skill labour is becoming less important as a factor of production. Contrary to popular perception, only about 18 per cent of global goods trade is now driven by labour-cost arbitrage». In the «first phase of globalisation, the age of mass manufacturing», Seong said, companies could ship more bulk products from A to B, but customers now have more sophisticated demands for products such as clothing and electronics. The rise of highly customised products has meant that if manufacturers want to react quickly to changes in consumer demand, a shorter supply chain is imperative. At the same time, locations that were previously hotbeds of low-cost manufacturing are becoming vibrant consumer markets. As millions join the ranks of the middle classes in China, India and Southeast Asia, many companies are choosing to have localised supply chains to service them. This is evident when looking at the car market, where companies such as Changan Ford produce in huge numbers in China to satisfy domestic demand. « These trends will not soon reverse course,» he said. Regional hubs will benefit from this, as is the case with Mexico and Vietnam, which are often described as the «winners» of the first year of the trade war. In May, the US trade deficit with Mexico was the highest monthly reading on record, at US$9.6 billion, with imports from its southern neighbour soaring to more than US$32 billion over the course of the month. Meanwhile, Vietnam's reported GDP growth for the first half of the year was 6.8 per cent, driven largely by manufacturing exports. Much has been made of the migration of manufacturing out of China and into Vietnam, and since the start of this year its exports to the US have surged by almost 40 per cent. Meanwhile, as technology continues to develop, deglobalisation will become more ingrained. With smart manufacturing and advanced robotics, it becomes less important to tap low cost labour in distant corners of the world. With the advent of 3D printing, factories could theoretically print what they need locally, thereby reducing the volume of trade and deepening the lines of balkanisation. But for now, the restructuring is still a work in progress and companies like Ivemsa and Tractus Asia are benefiting. Ivemsa's Durazo, however, speaks like a man who has already glimpsed the future through the eyes of demanding customers. «A few hours over the border is nothing compared to a few weeks from Asia,» he said. «But you can imagine that for the customers, there is always the next thing. » All rights reserved. All rights reserved.
A new business intelligence report released by HTF MI with title ?Global Intelligent Home Device Industry Market Research Report? has abilities to raise as the most significant market worldwide as it has remained playing a remarkable role in establishing progressive impacts on the universal economy. The Global Intelligent Home Device Market Report offers energetic visions ?
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