Companies Ditch Europe to Shift Manufacturing to the United States

Europe is emerging as a big loser on the economic front. An economy battered by the Covid-9 pandemic for two straight years is now having to suffer an intense energy crunch, as cheap Russian natural gas supplies vanish from European markets. The lack of natural gas is hindering industrial operations, with many factories across the 27-member European Union shuttering. The economic instability and energy insecurity is now forcing industries to rethink their existence in Europe. Many are looking to quit the continent and shift production elsewhere. Where, you’d ask? Well, the United States of America is emerging as a dream destination for European firms looking to get out of the crisis-ridden bloc. Watch to know more.

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Music credits: BNB Productions | https://youtu.be/lnsz1OLZP3o