JLL Experts Share Vision for Industrial Sector in 2020: Is E-Commerce Pandora’s Box? Will NJ Run out of Industrial Space?

JERSEY CITY, NJ – The Luncheon Keynote Address at CAPRE’s Industrial Revolution in Jersey City was a forward-looking fireside chat with two thought leaders from JLL. “2020 Vision and the Industrial Sector” featured the perspective of JLL’s Walter Kemmsies, Economist and Chief Strategist, as well as Ryan Severino, JLL’s Chief Economist. Moderator Brian Klebash kicked off the session with an essential question about a topic that turned into a recurring theme that day. “Let’s talk about the evolving Asian supply chains, which is increasingly moving away from China and into emerging markets,” suggested Klebash. “What does that change mean for the United States?” Kemmsies offered his take first. “We’ve seen companies increasingly begin to move out of China. If you go back 15 years, Vietnam and India were barely in the top 10 for imports to the U.S. Today, India is the second largest import country. Vietnam has risen to, I think number four,” he began. “Part of this isn’t necessarily politics. Part of it is globalization, which is ongoing. Everyone talks about the world as it’s fully globalized, but I can tell you that it’s not. So there’s a lot of, not necessarily off-shoring, but new-shoring going on.” “A lot of it is encouraged by our government. If you look at what the U.S. imports, out of the 899 commodities that are classified, China has a 100% market share for half of them….so if you drop politics for a…