Will the Next Frontier in Globalization Be Mexico? Miroslava Medina - Co-Production International
go to original June 14, 2023

Made in Mexico (Hoser)

Update: Mexico’s Economy Exceeded Growth Forecast in April (Mexico News Daily)

With its rapid economic growth and incorporation into the global economy in recent years, China has been at head of globalization and is now a significant player in international trade. But as the world changes and develops, it's important to think about where globalization would go next: Mexico.

Mexico manufacturing is an attractive place for businesses and investors. For one, it has a large and growing population, with over 130 million people. This provides a large market for goods and services, as well as a large pool of potential employees. Mexico also has a relatively well-educated population, with a literacy rate of almost 95%, which is higher than many other developing countries.

In addition, Mexico has a diversified and growing economy. While it is still heavily dependent on exports to the United States, it has been working to diversify its trade partners in recent years. Mexico has also been working to develop its manufacturing sector, with a particular focus on the automotive and aerospace industries. As a result, Mexico has become a major exporter of cars and aircraft parts to countries around the world. Furthermore, Mexico is trying to take privilege of its proximity to the US and Canada, which makes it a favorable destination for companies seeking to relocate their manufacturing operations.

Another advantage of manufacturing in Mexico is its location and trade agreements. As a country in North America, it is well-positioned to take attraction of the market potential in the region and beyond. Mexico has also established different free trade agreements with countries around the world, which makes it easy for businesses to trade with Mexico and take benefits of its lower labor costs.

Read the rest at Co-Production International

Related: Will Nearshoring Live Up to Its Hype for the Mexican Economy? (Mexico News Daily)

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