global production
Planetwide goods creation
Global production is the manufacture of goods across multiple countries, typically by multinational corporations coordinating resources, labor, and facilities worldwide.
The term emphasizes how modern manufacturing disperses stages of production—raw materials from one region, assembly in another, distribution from a third: Global production networks have transformed how cars are built.
It also refers to aggregate worldwide output: Global production of wheat fell sharply last year.
- international tradeExchange across national boundaries
- just in timeAt the last moment
- automationSelf-operating system design
- tariffsTaxes on imports
- inventory controlOverseeing stored goods levels
outsourcing · digital twins · offshoring · cheap labor · made in China · 3D printing · wage disparities · shipping containers · freight transportation · free trade agreements · trade war · multinational corporations · workforce training · warehousing · assembly line · factory floor · economic blocs · trade deficits
global productiondomestic production
Creating goods within one's country
domestic manufacturing · autarky · cottage industry · import substitution · localism
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