Mexico aims to be big economic winner from US-China tensions - ET EnergyWorld
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Mexico aims to be a big economic winner from the tensions between the United States and China. Last year, Mexico replaced China as the top exporter of goods to the United States. The trend of nearshoring, or friendshoring, has led to a boom in companies relocating to Mexico. Mexico's manufacturing association Index expects around $9 billion of foreign investment in Mexico's export sector this year. Lower labor costs, tax incentives, and the North American free trade deal have long attracted companies to Mexico. The appeal of Mexico has increased due to fears of a Cold War between the United States and China. Companies that have already announced nearshoring-related expansions in Mexico include Foxconn, Lego, and Mattel. Nearshoring is likely to be a gradual process that will take many years. Challenges for companies moving to Mexico include insecurity, water scarcity, labor requirements, and the need for a consistent supply of energy. Mexico's "maquiladoras" are expected to experience a new golden age as more companies move manufacturing operations to Mexico.
#Mexico #UschinaTensions #Nearshoring #Export #Manufacturing #Investment
https://energy.economictimes.indiatimes.com/news/renewable/mexico-aims-to-be-big-economic-winner-from-us-china-tensions/110265148
ETEnergyWorld /
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2024-05-20 08:46:00
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wss://relay.damus.ioPublished at
2024-05-20 08:46:00Event JSON
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"content": "Mexico aims to be big economic winner from US-China tensions - ET EnergyWorld\n==========\n\nMexico aims to be a big economic winner from the tensions between the United States and China. Last year, Mexico replaced China as the top exporter of goods to the United States. The trend of nearshoring, or friendshoring, has led to a boom in companies relocating to Mexico. Mexico's manufacturing association Index expects around $9 billion of foreign investment in Mexico's export sector this year. Lower labor costs, tax incentives, and the North American free trade deal have long attracted companies to Mexico. The appeal of Mexico has increased due to fears of a Cold War between the United States and China. Companies that have already announced nearshoring-related expansions in Mexico include Foxconn, Lego, and Mattel. Nearshoring is likely to be a gradual process that will take many years. Challenges for companies moving to Mexico include insecurity, water scarcity, labor requirements, and the need for a consistent supply of energy. Mexico's \"maquiladoras\" are expected to experience a new golden age as more companies move manufacturing operations to Mexico.\n\n#Mexico #UschinaTensions #Nearshoring #Export #Manufacturing #Investment\n\nhttps://energy.economictimes.indiatimes.com/news/renewable/mexico-aims-to-be-big-economic-winner-from-us-china-tensions/110265148",
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