Mexico is the new China. Its competitive labor costs and proximity to the US mean investors should take a look.
Unlike China, Mexico continues to boast low labor costs and has a huge advantage in terms of proximity to the American market. That’s a shift, because for years Mexico suffered because China’s low wages made it the manufacturing hub of the world.
But recently, the rise in Chinese wage inflation has resulted in the gap disappearing. Mexican wages that were nearly double China’s 10 years ago are now nearly 20 percent lower than in China