Is Globalization Ending? Manufacturing Reshoring and Global Trade with Mike Steger – Part 1 (Ep. 73)
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Is globalization ending, and what could reshoring manufacturing mean for physicians, business owners, and investors? How could shorter supply chains affect business costs, economic growth, and investment markets?
In this episode, John and Alex Soutsos discuss globalization with Mike Steger, co-founder of Promethean Action. They examine why manufacturing moved overseas, what supply chain disruptions revealed, and whether advanced production can return to North America. They explore how robotics, artificial intelligence, base load energy, intellectual property, China’s industrial growth, and the post-Bretton Woods trading system could affect corporate earnings, business planning, and investors. This first part looks at how the system developed and sets up what comes next.
John, Alex, and Mike discuss:
- How corporate influence and lower labor costs encouraged companies to move manufacturing production offshore
- Why global supply chain disruptions exposed economic vulnerabilities across North America during the pandemic
- How robotics, artificial intelligence, and advanced production could support manufacturing reshoring efforts
- Why domestic manufacturing can strengthen innovation, protect intellectual property, and support higher wages
- How reliable base load energy, China’s industrial growth, and Bretton Woods shaped global trade policies
- And more!
Listen to Part 1 to learn why manufacturing moved overseas, what reshoring could mean for businesses and investors, and which economic questions will carry into Part 2. Follow Prescribing Prosperity so you don’t miss the rest of the conversation.
Connect with Med-Wealth Financial Services:
- Med-Wealth Financial Services
- LinkedIn: John Soutsos
- LinkedIn: Alex Soutsos
- LinkedIn: Med-Wealth Financial Services
- X (formerly Twitter): Med-Wealth Financial Services
- info@med-wealth.ca
- 905-568-2000
- 1-888-568-1170
Connect with Mike Steger:
- Promethean Action
- LinkedIn: Promethean Action
- YouTube: Promethean Overviews
- Instagram: @stegerMG
- X: @stegerMG
About Our Guest:
Mike Steger is the co-founder of Promethean Action and host of Promethean Overviews. He has an academic background in economics and has spent years studying political systems, physical economics, manufacturing, energy, technology, and global trade. Through Promethean Action, Mike works to make large political and economic questions easier for the public to understand.