The phenomenon of the offshoring is a very ambiguous one. Nowadays, it is very complicated to make a clear-cut distinction among the offshoring and the related phenomenons of international production and foreign direct investment. This paper tries to clarify the former concept, and, at the same time, to show the elements that make the offshoring process have a negative impact on the economy of the offshoring origin. Additionally, the paper studies the threat to the Spanish economy coming from the Central and Eastern Europe. Lastly, we pay attention to the risks to the economy of the Basque Country from the threat of the offshoring of those countries.