Onshoring

In 1992 the Soviet Union collapsed and everyone said, now what. Over the past 20 years the answer to that question has surfaced and it means the end of globalization and the beginnings of onshoring. It means bringing production back home. This allows for shorter supply chains and better national security. While these problems had been festering for years, the public only became aware when Covid hit. Companies which had been onshoring suddenly realized they did not have as much time as they thought and now the country finds itself in a race to build new facilities. It will take longer than anticipated and shortages will cause prices to rise and delays in production but in time all new facilities using the most modern engineering techniques will increase productivity and offset inflation. Many of the products that must be made at home are now coming from China and China is collapsing faster than anticipated, putting even more pressure on construction of new plants. This will mean labor shortages which will lead to higher wages as the old rust belt areas of the Midwest are reborn and Southern states with lower living cost and lower taxes join in the boom. Citizens will have to tighten their belts to deal with higher prices but after the dust settles in five or so years they will sing the praises of the new economy. The new NAFTA treaty will allow North American to grow rapidly using technology developed in the US and workers from Mexico.