Global Offshoring Trends Reshape Job Markets and Economies Worldwide
The article discusses the trends and issues related to offshoring and outsourcing. It defines offshoring as the import of goods or services from overseas, leading to job displacement and sometimes foreign investment. The study examines international trade and FDI statistics to understand the extent of offshoring in services, which is smaller compared to manufacturing. The main findings suggest that world trade in services is only a fraction of that in manufacturing, highlighting the limited impact of offshoring in services.