The terms refer to different aspects of international business and global supply chains: Importing is buying goods and services from other countries, Exporting is selling them to other countries, Outsourcing/Subcontracting involves a firm contracting out a part of its production or business process to another company, which can be domestic or foreign, and Substituting foreign for domestic labor is the practice of replacing local workers with foreign workers, often through offshoring or subcontracting.
Offshoring is :
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