The talk of "reshoring" is nonsense, for the reasons we buy from overseas have to do with tax-avoidance, de facto money laundering and management efficiency, and never labor rates or logistical issues as envisioned by the boosters of reshoring.
There is a fact-based means for a given trader of a given product to target a market. Reflect: if it is imported, then it implies a market... and to proffer goods to an importer who already has a customer base is a fine shortcut to a test market...
Take a place like Russia, which has since their recovery from socialism, had a residual welfare state of selling raw materials to pay for social welfare. Under this system, buying imported anything was cheaper better than making in Russia to sell to Russians. The sanction USA put on Russia for USA destabilizing the Ukraine has had some effect, but mostly lower prices for raw materials, the bust, is making Russian made more viable, plus creating an opportunity for Russians to compete worldwide with Russian made goods.
But immediately, a Russian can see what was once imported from USA to Russian (or another exporter to Russia) look at the quantity and price, and then need only get competitive making it in Russia and selling it in Russia. Still a lot of work, but one prodigious shortcut, plus better then shivering in the dark.
So doing the usitc.gov research and analysis as I lay out in my courses, the entrepreneur can begin to target opportunities based on information that no one else has.
These are fine times to get started.
Feel free to forward this by email to three of your friends.
There is a fact-based means for a given trader of a given product to target a market. Reflect: if it is imported, then it implies a market... and to proffer goods to an importer who already has a customer base is a fine shortcut to a test market...
Take a place like Russia, which has since their recovery from socialism, had a residual welfare state of selling raw materials to pay for social welfare. Under this system, buying imported anything was cheaper better than making in Russia to sell to Russians. The sanction USA put on Russia for USA destabilizing the Ukraine has had some effect, but mostly lower prices for raw materials, the bust, is making Russian made more viable, plus creating an opportunity for Russians to compete worldwide with Russian made goods.
But immediately, a Russian can see what was once imported from USA to Russian (or another exporter to Russia) look at the quantity and price, and then need only get competitive making it in Russia and selling it in Russia. Still a lot of work, but one prodigious shortcut, plus better then shivering in the dark.
So doing the usitc.gov research and analysis as I lay out in my courses, the entrepreneur can begin to target opportunities based on information that no one else has.
These are fine times to get started.
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