Obama urges global economy rethink
Following President Obama's call, in the run up to the G20 summit, for a rebalance of the global economy after decades of U.S. over consumption, Robin Johnson, partner at international law firm Eversheds comments:
“The fact that President Obama is focusing on over consumption is a very valid argument. For too long the throw away/over consumption has prevailed in the Western culture. It is not just an “American disease”. A balance between appropriate consumer demand and manufacturing supply is required to avoid the problems of the last few years. Increasingly global companies will be looking for three major areas of manufacturing, servicing three distinct markets. Firstly, operations in the Americas to serve the American market, operations in Europe to service the EMEA market and operations in Asia to serve the Asian market. With the increased cost of logistics, so called cheap imports from Asia actually are uneconomic and an appropriate cost base in each of the three distinct geographic regions should result in a more efficient supply chain serving the ultimate consumer. If President Obama was to introduce further regulation on waste whether at the individual or corporate level this could also reduce the over consumption model.”
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