Question

If the term offshoring describes outsourcing of work ad jobs to foreign locations, what is it called when firms like Caterpillar move jobs back into the US from foreign locations?

a) protectionism
b) reshoring
c) disrupting
d) upscaling

Answer 1

The process of moving jobs back into the U.S. from foreign locations is called reshoring, which is the opposite of offshoring.

Step-by-step explanation:

When firms like Caterpillar move jobs back into the US from foreign locations, this process is known as reshoring. Reshoring is the reverse of offshoring; instead of sending jobs to foreign locations to access cheaper labor markets, companies bring them back to their home country. The return of jobs can be a response to increasing domestic demand, for a cost-benefit analysis favoring local production due to rising costs abroad, or as a result of political pressure to create jobs locally and decrease unemployment.