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Ricardo Castro-Garza
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backLATINtalk February, 2012
Mexico Improves Competitive Position against China
Figures published in an article by JP Morgan in February show that despite the fact that manual labor is consistently cheaper in China, there was a considerable reduction in the salary difference between Mexico and China in 2010 amounting to 13.8%.
The previous figure is compared to the 237% difference recorded in 2002 representing a great improvement by Mexico in reducing the competitive positions that China may have in comparison as far as attracting direct foreign investment. Furthermore, the publication highlights that Mexico continues to be attractive for investment, despite the lack of reforms and safety affecting certain regions of the country, as evidenced by plans for investment recently announced by various Asian auto manufacturers that will establish assembly plants in Mexico, and the resulting attraction of auto parts manufacturers.
Other examples of investment opportunities include the development of the aerospace industry, medical supplies, medical services and software, all of which are motivated by the competitive advantage that Mexico offers, including the depreciation of the Mexican peso, low cost of a qualified labor force, a strategic location and the existence of free trade agreements.
Source: CCN Mexico Report - GAI
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