Thanks to its proximity to the US, Mexico is the emerging market best positioned to gain from so-called “nearshoring”, the trend that is supposedly seeing companies progressively transfer part of their production to other countries close to their markets.
To date, however, the trend has not resulted in Mexico seeing the greatest available benefits. Economies across Asia, as well as Canada, have grown their share of US imports faster than Mexico since the US-China trade decoupling began five years ago, wrote economic analytics firm BBVA Research in a note.
