Thanks to nearshoring, many are calling Mexico the new China. But maybe calling Mexico the new Detroit would be more accurate.
Foreign manufacturers are continuing to invest at a quickening rate in Mexico. Some are expanding their facilities, while others are coming over for the first time. But the international automotive sector is leading the foreign investment pack.
All this new investment and the job growth that comes with it give Mexican politicos the chance to claim credit for the boomlet. But the political and economic climate outside of Mexico in countries like the United States has played a major role in the country’s current success as well.