LLL: Businesses face $1trn cost to ‘remake’ global supply chains

 Lloyd’s Loading List (LLL) reports:

Rising numbers of businesses seeking to shift their production activities from China to closer to home in the wake of the COVID-19 pandemic and growing geopolitical tensions could face costs of up to US$1 trillion over a five-year period, according to new research from Bank of America (BofA).

The US bank said the outlay was “significant but not prohibitive”, arguing that the re-shoring move would have beneficial effects in the long term, and that the COVID-19 pandemic had ...