Background

Supply chain struggles ignite economic boom along U.S.-Mexico border

“This, in the lingo of corporate executives, is near-shoring, one of the biggest economic transformations sparked by the pandemic: Shrink the length of the supply chain to keep production closer to its final destination and reduce the risk of some snag messing things up along the way. A shorter chain is a stronger chain, the thinking now goes, and there’s a growing sense that this new approach will remain in vogue in C-suites long after COVID fades.”

[Bloomberg]

New China import rules bring headaches for food and beverage makers

“China's customs authority published new food safety rules in April stipulating all food manufacturing, processing and storage facilities abroad need to be registered by year-end for their goods to access the Chinese market. But detailed procedures explaining how to get the required registration codes were only issued in October, while a website for companies allowed to self-register went online last month.”

[Reuters]

New Honduras facility aims to shift textile sourcing from Asia

“This investment will help customers shift 1 million pounds of yarn per week away from supply chains in Asia and China and enhance U.S. and CAFTA-DR co-production resilience and increase regional product offerings.”

[Textile World]

Korea launches process to join CPTPP

“Finance Minister Hong Nam-ki said Monday that China and Taiwan recently applied to join the agreement, and that the Korean government would start canvasing public opinion. Hong said discussions on the CPTPP shouldn't be delayed considering the economic benefits it would have. But small businesses relying on the domestic market are likely to oppose it because it will allow cheaper imports.”

[JoongAng Daily]

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