“We are of the opinion that nearshoring is already occurring and that it is accelerating,” said Andrew C. Hecker Managing Port Director and CFO of PortMiami. “It is driven by a number of market forces that will not go away anytime soon.” The pandemic showed that breaks in long supply chains have a much larger effect than on short chains, Hecker contended. As a response to this, he now sees many firms in textiles, apparel, footwear, furniture and appliances, moving to Latin America to shorten their supply chains. Toy-makers Mattel and MGA Entertainment, and apparel firms Nike and Gildan, already moved to Latin America, he exemplified. High oil prices might be a short-lived phenomenon that could be scaled back with increased U.S. […]
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