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Ricardo Castro-Garza
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Adios Motor City: How Mexico is becoming the world’s best place to make cars
Mexico’s auto production has taken a big leap since NAFTA. The country now accounts for roughly 20% of North American light vehicle production(pdf), according to a report this month by the Federal Reserve Bank of Chicago, compared with a 6% share in (...)
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Brazil Vehicle Production Up Strongly in Q1
Brazil vehicle output provides boost to Q1 performance. Inventory restocking and easy comparisons against last year’s weak Q1 helped drive production of commercial vehicles up 42% during Q1, well ahead of our expectations. Output of light vehicles al (...)
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Brazilian car market boomed 29% in April 2013!
Following a first quarter below expectation, in April finally the light passenger vehicles market in Brazil posted a robust increase, gaining 29.3% from last year. Year-to-date sales were up 8.5%. The Big 3, Fiat, Volkswagen and Chevrolet are losing (...)
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How Used Cars Are Hindering Mexico's Potential
Since January, Mexico has been able to import American and Canadian vehicles that are Model Year (MY) 2007 or older. Up until December, the limit was MY04 or older and in 2009, it was MY99 or older. In 2019, any used vehicle can be imported from the (...)
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Argentinian Car Market boomed 36% in April 2013
Following nine y.o.y. declining months out of last ten, in April the Argentinian car market posted a robust growth, with sales up 36.1% from last year. Thanks to this wonderful performance the year-to-date market was positive by 4.9%. Ecosport pushed (...)
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Costa Rica exports buses for the first time
A Korean-owned company based outside of San José expects to sell 100 buses in the region in the next two years. Korean company Daewoo Bus Costa Rica Co. this week is sending the first six buses built in the country to El Salvador. That na (...)
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Brazil bets on stronger recovery in second half
The Brazilian government is betting the economy will shift into higher gear in the second half of the year as business confidence improves and stimulus measures take hold, a senior member of the administration told Reuters.The recovery of (...)
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CHART OF THE DAY: Mexico Is The Clear Winner In The American Manufacturing Renaissance
The American manufacturing renaissance has become one of the biggest emerging economic stories in the world.The basic idea is that rising overseas labor costs and falling domestic energy costs will encourage manufacturers to bring product (...)
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Commerce grows between Mexico, China as they eye U.S. market
With labor costs in China rising and Mexico pushing for new access to Chinese consumers, an old trade rivalry is shifting. As the top suppliers of manufactured goods to the U.S. market, China and Mexico have typically been in direct compe (...)
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U. S. Achieves Parity with Mexico as a Preferred Manufacturing Location; To Achieve Cost Parity with China by 2015
But, look before you leap – nearshoring may not be profitable in all situations.In another sign that America is becoming more competitive in manufacturing, the United States is now equal to Mexico in “attractiveness” as a source for manuf (...)
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Supply Chain News: Rise in China Wages Now Means Labor Costs about 20% Lower in Mexico, New Study Finds
Wages have Stagnated in Mexico for a Decade, While Rising Sharply in China, New Bank of America Study Says, as Country Becomes Increasingly Favored Sourcing PointIt's not only the US that has recently seen its manufacturing sector benefit (...)
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Emerging Markets Beyond the BRICS: Focus on Mexico
Nowadays when we hear anything about Mexico in the media, the reports typically refer to drug cartel-related violence and weak rule of law. However, our suppliers in Mexico often emphasize that these security challenges mostly affect the parts of the (...)
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IMF again warns Argentina about protectionist and foreign currency exchange policies
The International Monetary Fund Director for the Western Hemisphere, Alejandro Werner, warned on Monday about the “negative effect” that the existence of two foreign currency exchange markets and protectionist policies bring to Argentina. (...)
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Brazil: Supreme Court rules on constitutionality of including state VAT in calculation base for other taxes on imports
Brazil’s Supreme Court ruled in March 2013 that it is unconstitutional for the state VAT (ICMS, the tax on the distribution of goods, interstate and inter-municipal transportation and communications services) to be included in the tax base of the PIS (...)
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Mexico is on the rise
It now exports more than the rest of Latin America.In India, people ask you about China, and, in China, people ask you about India: Which country will become the more dominant economic power in the 21st century? Mexico.Impossi (...)
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Panama Canal plans toll increases
The Panama Canal Authority (ACP) Board of Directors has approved a proposal to modify the Panama Canal pricing structure "to align Canal toll charges with the value the route provides."The proposal increases the number of segmen (...)
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Supreme Court rules on set off of losses incurred on sale of Mexican shares
Mexico’s Supreme Court recently issued several decisions in which it reversed its previous position on the possibility of setting off losses incurred on the sale of shares against any type of income.BackgroundUnder Mexi (...)
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Brazil: New rules regulate the 4 percent unified ICMS rate on interstate transactions involving imported goods
Starting 1 January this year, imported goods have been subjected to a 4 percent state sales tax (Imposto sobre Circulação de Mercadorias e Serviços or "ICMS") rate on interstate transactions after their importation, regardless of their dest (...)
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Brazil confirms 2004 Tax Treaty with Russia “not in force”
Brazil’s Ministry of Foreign Affairs recently confi rmed that the 2004 Brazil-Russia Income Tax Treaty is not in force and is currently undergoing revision in Congress.Treaty ratification backgroundThe entry into force of a b (...)
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Brazil’s Supreme Court rules on Controlled Foreign Corporation rules
The Brazilian Supreme Court (STF) ruled on some of the leading cases with respect to Brazilian Controlled Foreign Corporation (CFC) rules. Discussions have been developing since 2001, after Article 74 of Provisional Measure 2,158-35/2001 established (...)
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Mexico’s Supreme Court rules on treatment of capital losses
A recent decision by the Mexican Supreme Court upheld the rules that limit the use of capital losses from the sale of shares to income arising from gains on the sale of shares. This ruling was supported by a vote of ten to one of the justices on the (...)
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The Economist: Brazil isn’t growing, so why are Brazilians so happy?
In the decade after Jim O’Neill of Goldman Sachs coined the acronym “BRICs” in 2001, grouping together four big countries with the potential for sustained growth, the “B”, Brazil, really put itself on the economic map.Having grown by 2.3% (...)
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Brazil business travel spend up 14.3%, says HRG research
HRG research has revealed a 14.3% growth in corporate travel and events in Brazil.The data from HRG Brasil, a partner for Hogg Robinson Group (HRG), revealed double digit growth in Brasil, across corporate travel and events during 2012, w (...)
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Chinese Investments In Brazil Exceed US$21 Billion Last Three Years
Chinese investments in Brazil recorded a rise in the last three years and exceeded $US21 billion, which shows the excellent state of bilateral relations, said Ambassador Li Jinzhang.China became one of the main partners of this South Amer (...)
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Facing Receding Tailwinds, Latin America and the Caribbean Need to Propel Domestic Engines of Growth
The formidable global tailwinds that facilitated robust economic growth and social inclusion in Latin America and the Caribbean (LAC) over the past decade are receding. A new global context of excess liquidity, slower growth in China, and sluggish ec (...)
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What effect will Argentina’s judicial reforms have for business?
Analysts view the reforms as negative for business, but do not believe they will lead to more expropriations.Argentina’s Congress approved broad reforms to the country’s judicial system on Wednesday, which some have warned could politiciz (...)
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Argentina industrial production down in March and in first quarter compared to 2012
Argentina’s industrial output registered a 0.3% drop in March year-on-year, according to Indec the official statistics bureau. The report stated that the manufacturing activity climbed 1.5% compared to February and dropped 0.4% annually in the first (...)
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Latin America Update: global headlines
Below are the latest headlines from around the world featuring articles on Latin America.China Keen on Investing In Brazil Infrastructure, Manufacturing Source: (...)
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