1. offshoring - Noun
2. offshoring - Verb
offshoring
present participle of offshore
offshoring (usually uncountable, plural offshorings)
The location of a business in another country for tax purposes or lowering production costs, as the labor.
From the 1970s, there has been a significant change in the U.S. economy, as planners, private and state, shifted it toward financialization and the offshoring of production, driven in part by the declining rate of profit in domestic manufacturing. Noam Chomsky
There are companies that are cutting their costs by over 50% by offshoring. Sanjay Kumar
China has emerged as a flashpoint ahead of the Nov. 3 election, with Trump repeatedly accusing Biden of long supporting trade policies that led to the offshoring of domestic jobs. Source: Internet
The ministry’s three-year strategy will be implemented from 2007 to 2010, focusing on developing the IT sector, Business Process Offshoring (BPO) and Knowledge Process Offshoring (KPO). Source: Internet
“Nearshoring,” unlike offshoring, allows companies to outsource business and software development processes to resources in a nearby country versus across the globe. Source: Internet
Once offshoring began, these ladders were dismantled, and today the result is that American consumers lack the income growth to drive the economy. Source: Internet