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The term ‘supply chain issues’ conjures visions of empty shelves, delays and high prices. And it’s not just an inconvenience for customers, it’s costing companies, too. That’s where the concept of nearshoring, or friendshoring can help. This episode, we're getting a nearshoring 101 lesson from Rodrigo Echagaray, the Global Head of Product Management and Head of Latin America Equity Research for Scotiabank. He’ll break down what exactly the term means, what implications it has beyond supply chains, and why it’s the next big thing in global markets.
Key moments this episode:
1:04 — Is nearshoring the same as friendshoring?
2:24 — Is nearshoring the opposite of offshoring?
3:32 — What specific issues are driving nearshoring’s popularity?
4:32 — What’s the incentive to move manufacturing back to North America now?
5:56 — How does nearshoring tie into sustainability?
8:30 — What is the benefit to Canada or North America of a policy of nearshoring?
9:44 — Will the consumer see prices of goods go up thanks to nearshoring?
11:51 — A surprising fact about where nearshoring investment in Mexico is coming from
12:35 — How much nearshoring is already taking place?
14:06 — How nearshoring helps integrate the economies of all North American countries
15:02 — Is nearshoring the next big thing in global markets?