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Nearshoring Impact on Supply Chain
Source:Interamerican Development Bank, (IDB)
transportation, energy, the construction of industrial parks, among other crucial items for the development of manufacturing and service activities. The official stated: “The big fear is that nearshoring will present itself as a possibility and we will let it go.”
the China Installation
The main economist of the World Bank (WB) for the Latin American Region and the Caribbean, William Maloney, provided hard figures and added that: “although Mexico continues to be the big winner for Latin America, in relative terms there are other countries that earn more or almost the same as Mexico,” since only between four and two percent of American companies and those from the rest of the world plan to increase their investments in the country, while between 2015 and 2023 only
six percent of Mexico’s export growth was due to nearshoring.
The biggest attraction, however, is for Chinese companies, which, according to experts, are transforming Mexico into their “back door” for entry to the United States and Canada.
In fact, Chinese foreign direct investment in Mexico increased from a total of US$500 million in 2000-2004 to US$2.5 billion in 2022 alone. Their way of investing is not the same as in the rest of Latin America, where they spend their raw materials currencies; in Mexico, China concentrates its economic activity on services and manufacturing, including electronics, automobiles, and appliances.
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