Mexico.- Financial group BBVA emphasizes that to date, Mexico has no advantage Completely controversies ads in which they are United States and China From July 2018.
The foregoing, said the Spanish bank operating in the Mexican Republic, is due to the various difficulties that foreign trade is currently facing. covid-19 pandemic,
“Mexico may not be able to increase its share of the manufacturing import market in the United States due to reasons associated with the pandemic and its adverse effects on supply chains, which are still affecting key export sectors such as the automotive industry. ” exposed.
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In one study, BBVA Mexico reported that the hardest part of the trade dispute between the world’s leading economy and the Asian giant began July 2018 and ended January 2020Which had a significant impact on the market for the total import of goods from the North American nation.
“Notably, China’s share in that market fell from 21.2 percent to 17.9 percent between 2018 and 2021. Although Mexico increased its share from 13.6 percent in 2018 to 14.3 percent in 2019, it was able to take advantage of China’s loss.” was unable to take as its share. That market returned to 13.6 percent in 2021,” the financial group explained.
In this sense, the bank indicated that the countries that benefited most commercially from the trade war between the United States and China were Vietnam, Taiwan and Switzerland, which registered growth of 1.7%, 0.9% and 0.6% respectively.
In this framework, the BBVA stated that the Normalization of Manufacturing Activity, the Treaty between Mexico, the United States and Canada (T-MEC), as well as business travel They could help the Mexican market gain ground in the US in the medium and long term.
However, he specified that for this to materialize, public policies are needed that favor the attractiveness of a greater number of people. foreign direct investment Concentrated on the manufacturing industry in the Mexican national area.
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“For this, it will be necessary for public policies to favor the attraction of greater inflows of foreign direct investment that are destined for the manufacturing industry. In particular, there is a need for greater certainty that contracts will be respected and an energy policy that promotes cheaper and less polluting electricity”, he pointed out.