
Mexican vs Chinese Factories
With the rising cost of wages in China, manufacturers are increasingly considering Mexico an attractive location to ‘re-shore’ production.
The following infographic by Global Times, which was brought to our attention by CFR’s Elizabeth Economy, details China’s complex and multi-layered matrix of diplomatic partnerships. Generally speaking, China maintains a four-tiered classification system that includes cooperative, comprehensive cooperative, strategic, and comprehensive strategic partnerships. But as indicated below, there are several exceptions to this framework. China refrains from describing its relations with Japan, the United States, or North Korea as “partnerships” and others (Jamaica, for example) are in leagues of their own.
During his recent Latin American tour, Chinese President Xi Jinping promoted Argentina and Venezuela from “strategic” to “comprehensive strategic” partnerships. Brazil and Mexico were upgraded in 2012 and 2013, respectively. Peru and Chile, two of China’s top trade partners in the region, still have only “strategic” partnerships with China.
With the rising cost of wages in China, manufacturers are increasingly considering Mexico an attractive location to ‘re-shore’ production.
What is the state of Peru-China commercial ties today?
China has became a critical economic partner for Venezuela over the past decade.