How Mexico is Becoming the New China

Mexico is becoming the new China as companies look for alternative low-cost manufacturing options due to the US-China trade war and supply chain disruptions caused by COVID-19 and the Russian invasion of Ukraine.
🇲🇽 Due to the US-China trade war, companies are shifting to Mexico for alternative low-cost manufacturing options.
🛳️ As supply chains were disrupted by COVID-19 and the Russian invasion of Ukraine, the need for an alternative became more pressing.
📈 Rapid economic growth led to rising wages and manufacturing costs in China, driving companies to look for alternative options.
🌎 The world is becoming less globalized, and there are concerns about vulnerabilities in global supply chains.
🚢 Mexico’s proximity to the US and its low labor costs make it an attractive alternative for companies looking for low-cost manufacturing options.