Deindustrialisation in the New Millennium

Majzlíková engages in a theoretical exploration of deindustrialisation, focusing in particular on the declining share of labour in manufacturing and the declining share of value added within the sector. Alongside a concise historical examination of the phenomenon, she presents current evidence of deindustrialisation in the new millennium. The author examines the main factors contributing to the decline of manufacturing, in particular the role of outsourcing, offshoring and their evolving dynamics within global value chains. In the second part of the chapter, Majzlíková raises critical questions about the continuing global nature of value chains and explores the benefits and challenges associated with regionalisation, including concepts such as nearshoring, backshoring, friendshoring and reshoring.