The global landscape is rapidly changing, and businesses must adapt to survive and thrive. Supply chain diversification, manufacturing alternatives, and careful consideration of geopolitical risks are essential in navigating this uncertain terrain.
China, the world's factory, is faced with a myriad of problems ranging from economic instability, debt, political tensions, crumbling infrastructure, and a fast-declining manufacturing industry.
Small businesses and sellers should be taking proactive steps to secure their future and diversify their supply chains before they get disrupted.
In this episode, I sat down with Steve Simonson, a Global Entrepreneur and Founder of the e-commerce association Empowery.com.
Our discussion centered around the rapidly changing global landscape, with a particular focus on the challenges and opportunities facing product brands and small businesses amid escalating geopolitical tensions.
Steve Simonson predicts that these tensions may lead to more kinetic actions, including wars, which could disrupt global trade and geopolitics.
So, what does all this mean for small businesses and sellers?
It's time to look at alternative supply chain options seriously. Vietnam, Thailand, Malaysia, Cambodia, the E.U., Turkey, and India are all viable options. But they possess different strengths and challenges.
But there is also a possible U.S. onshore manufacturing renaissance, coupled with a strategic North American alliance, that seems to be on the cards.
Tune in to gain valuable insights and expert advice to help you navigate the complex world of global business and supply chains.
Key Takeaways
- Intro (00:00)
- The Global Chaos Curve and its implication for sellers (01:44)
- China's economic stability and manufacturing decline (10:09)
- Supply chain alternatives to China (19:59)
- Diversifying to ASEAN countries (27:33)
- Always get on TERMS when buying from China (29:36)
- Manufacturing renaissance in U.S. and North America (37:43)
- E.U. supply chains (40:32)
- Onshoring back manufacturing to North America (43:56)
Additional Resources:
Connect with Steve Simonson
- Website and podcast platform: https://www.awesomers.com/
- LinkedIn: https://www.linkedin.com/in/stevesimonson/
- Twitter: https://twitter.com/stevesimonson
- Facebook: https://www.facebook.com/steve.simonson1/
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Day 2 Podcast has a goal of helping Amazon sellers learn how to launch, grow and protect their brand on the world's largest online marketplace (and beyond).
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