Report says there is a mass exodus of American companies from China


The coronavirus pandemic may get American companies to do something the government has wanted for decades: return manufacturing to the United States.

Global manufacturing consulting firm Kearney released a report Tuesday that shows American manufacturing companies are leaving China en masse, spurred first by the trade war and solidified by China's inability to contain COVID-19 after unleashing it on the global community.

Indeed, the report indicated a "dramatic reversal" of a five-year trend in 2019 showing U. S. export its manufacturing.

Last year, U. S. production "2019 commanded a significantly greater share versus the 14 Asian low-cost countries," the report said. Hardest hit was and continues to be China.

In addition to returning production to the states, U. S. companies are also moving t... (Read more)

Submitted 293 days ago

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