As Extra Producers Look to Exit China, Many Could Finish Up in Mexico – #information
Disruptions introduced on by China’s draconian COVID Zero crackdowns, rising wages, and stricter environmental controls are all contributing to an exodus of producers. Whereas many are heading to Vietnam and different Southeast Asian nations, Mexico can be well-positioned to profit.
Manufacturing unit wages in Mexico have barely budged over the previous ten years at round $2 an hour, a 3rd of what it prices in China. Plus, merchandise made in Mexico have duty-free entry to the U.S. and Canadian markets.
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