Fluid Power World

  • Home
  • Technologies
    • Hydraulics
      • Cylinders & Actuators
      • Filtration/Contamination Control
      • Fittings, Couplings & Adapters
      • Fluids
      • Fluid Conditioning
      • Hose & Tubing
      • Pumps & Motors
      • Related Technologies
      • Sealing
      • Sensors & Gauges
      • Valves & Manifolds
    • Pneumatics
      • Air Preparation & Regulation
      • Compressed Air Technologies
      • Cylinders & Actuators
      • End Effectors & Grippers
      • Fittings, Couplings & Adapters
      • Hose & Tubing
      • Sensors
      • Vacuum
      • Valves & Manifolds
  • Engineering Basics
  • Trending
  • Resources
    • Digital Issues
    • Distributor Search
    • Engineering Week
    • Podcasts
    • Videos
    • Webinars / Digital Events
    • White Papers
  • Leadership
    • 2020 Leadership in Fluid Power Winners
    • 2021 Leadership in Engineering Winners
  • Women in Engineering
    • Women in Fluid Power
    • Women in Engineering
  • Design Guides
    • Design Guide Library
    • Electro-Pneumatic Regulators
    • Hydraulic Cylinders
    • Hydraulic Filtration
    • Hydraulic Hose Assembly
    • Hydraulic Pumps
    • Hydraulic Valves
    • Pneumatic Actuators
  • Events
    • Engineering Week
    • Fluid Power Tech Conference

June 2020 Issue: “Donut” actuator takes on rotary applications

By Fluid Power World Editor | June 16, 2020

Share

The changing global economy in pandemic times

In speaking to a few different fluid power manufacturers recently, one theme seems to run true for many — this COVID-19 pandemic has rattled confidence in the global economy and reliance on far-fetched supply chains may be decreased.

Reshoring is a term anyone in the industrial world already knows well. In the past 10 years or so, we’ve seen this trend of manufacturers producing more “local for local” products, equipment and machines, as even foreign companies have located manufacturing and assembly facilities in the U.S. to reduce lead ti mes.

Will this continue with a more isolationist idea, as manufacturers quit relying on far-reaching suppliers, particularly in Asia and, more specifically, China?

Some experts think so. Geopolitical strategist Peter Zeihan, a favorite at NFPA conferences, has been hinting that the U.S. is becoming more closed and nationalist attitudes will prevail as we need to rely less on the outside world. And this was well before the pandemic — it’s a sentiment he’s shared many ti mes in recent years. And now, in a blog post on April 9, Zeihan said, “Combine a longer American economic shut-off with pending deeper epidemics in the developing world than what we have seen thus far, and the end result will be a global economic system that both splinters and faces a very long period of subdued activity.”

It’s not just the U.S., either. As early as late February, France’s Finance Minister urged French industries to review their dependence on Asian supply chains.

It’s impossible to imagine a world where global trade and manufacturing don’t go hand-in-hand. This pandemic is not likely to end the global world economy as we know it. But it’s certain to change things. Supply chain lead times will need to be reduced, as the shortages and long waits we saw worldwide for key PPE were seen as unacceptable. The question that remains is how will this be accomplished?

I’d love to hear from manufacturers and users of fluid power technologies to see how they are responding to this changing world. Are you seeing more reshoring, more in-house manufacturing or design that may have taken place elsewhere? Are your own vendors and suppliers changing how they operate to reduce these lead times? Are you looking for more local vendors and suppliers?

We’re only in the beginning of how this coronavirus will impact our world. Here’s hoping manufacturers — particularly the users and suppliers of fluid power technologies — use this crisis as a springboard for positive change.

Mary C. Gannon
Editor
mgannon@wtwhmedia.com
On Twitt er @DW_marygannon

Other articles for you:

Fluid Power World October 2015 Issue December 2019 Issue: Hydraulic innovations in concrete pump trucks June 2021 Issue: The roof wing opening system of the UAE Pavilion July 2021 Issue: 2021 Fluid Power Handbook

Filed Under: Digital Issues

 

Fluid Power World 2021 Handbook

Fluid Power World Digital Editions

Fluid Power World Digital EditionBrowse the most current issue of Fluid Power World and back issues in an easy to use high quality format. Bookmark, share and interact with the leading fluid power magazine today.

Get Fluid Power News Direct

Fluid Power News

RSS Featured White Papers

  • High-force linear motion: How to convert from hydraulic cylinders to electric actuators and why.
  • A technical comparison: Performance of pneumatic cylinders and electric rod actuators
  • Quick Connect Couplings: A Critical Component in Hydraulic Systems

Fluid Power Podcast

Women in Fluid Power: Donna Pollander, Executive Director of the IFPS
See More >

Follow us on Twitter!

Tweets by @wtwh_paulheney
Tweets by @FPW_MaryGannon
Fluid Power World
  • Hose Assembly Tips
  • Mobile Hydraulic Tips
  • Pneumatic Tips
  • Sealing & Contamination Control Tips
  • Advertise
  • About us
  • Contact Us
  • Subscribe

Copyright © 2022 WTWH Media LLC. All Rights Reserved. The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of WTWH Media
Privacy Policy | Advertising | About Us

Search Fluid Power World

  • Home
  • Technologies
    • Hydraulics
      • Cylinders & Actuators
      • Filtration/Contamination Control
      • Fittings, Couplings & Adapters
      • Fluids
      • Fluid Conditioning
      • Hose & Tubing
      • Pumps & Motors
      • Related Technologies
      • Sealing
      • Sensors & Gauges
      • Valves & Manifolds
    • Pneumatics
      • Air Preparation & Regulation
      • Compressed Air Technologies
      • Cylinders & Actuators
      • End Effectors & Grippers
      • Fittings, Couplings & Adapters
      • Hose & Tubing
      • Sensors
      • Vacuum
      • Valves & Manifolds
  • Engineering Basics
  • Trending
  • Resources
    • Digital Issues
    • Distributor Search
    • Engineering Week
    • Podcasts
    • Videos
    • Webinars / Digital Events
    • White Papers
  • Leadership
    • 2020 Leadership in Fluid Power Winners
    • 2021 Leadership in Engineering Winners
  • Women in Engineering
    • Women in Fluid Power
    • Women in Engineering
  • Design Guides
    • Design Guide Library
    • Electro-Pneumatic Regulators
    • Hydraulic Cylinders
    • Hydraulic Filtration
    • Hydraulic Hose Assembly
    • Hydraulic Pumps
    • Hydraulic Valves
    • Pneumatic Actuators
  • Events
    • Engineering Week
    • Fluid Power Tech Conference