3 ms·

Yup - and those Mexican factories are owned by Chinese firms. Hopefully they will employ / contribute positively towards Mexico's economy.

alephnerd 3y ago
> those Mexican factories are owned by Chinese firms Not really. The bulk of FDI in Mexico comes from the US, EU, Canada, UK, and Japan [0] The China factor plays well in the news but German (Siemens, Schneider) and Spanish (SEAT/Volkswagen) have a massive historical presence in Mexican industry, and at the end of the day, NAFTA/USMCA makes it very easy for American companies to operate within Mexico (and vice versa). [0] - https://www.proyectosmexico.gob.mx/en/why_mexican_infrastructure/solid-and-open-economy/investment-destination/ https://www.proyectosmexico.gob.mx/en/why_mexican_infrastruc...
- givemeethekeys 3y ago
  Those look like pre-pandemic numbers. https://www.freightwaves.com/news/chinese-manufacturer-investing-5b-to-expand-production-in-mexico https://www.freightwaves.com/news/chinese-manufacturer-inves... says 5 Billion, so perhaps the landscape is changing rapidly.
  - alephnerd 3y ago
    Even in 2023 China's FDI in Mexico is tiny [0]. The 5 largest FDI contributors are US, Spain, Germany, Argentina, and Japan. Take the L dude. A couple high profile assembly plant openings don't signify a massive change in foreign investment patterns in a country with a Trillion Dollar GDP [0] - https://www.cefp.gob.mx/publicaciones/documento/2023/cefp0452023.pdf https://www.cefp.gob.mx/publicaciones/documento/2023/cefp045...
simpletone 3y ago
Nope. Most of mexico, and latin america, is owned by europeans. Just tiny netherlands alone invests and owns more of latin america than china. Always wondered where the dutch get their money. The myth about china's money is entirely that. Myth spread by propagandists. When you look at the numbers, europeans are buying up most of the world. Look at brazil. The dutch pump more money into brazil than the US. https://www.statista.com/statistics/749238/fdi-brazil-by-country-of-origin/ https://www.statista.com/statistics/749238/fdi-brazil-by-cou... But you won't see that in the news. If you do it won't be portrayed in a threatening manner. It's always the chinese or the japanese or the arabs buying up everything. When the numbers tell you otherwise.
- blovescoffee 3y ago
  No. Maybe a large portion of the Foreign investment is owned by Europeans but "most of mexico and latam" are definitely not owned by Europeans. Have you ever spent any time in LATAM?
- pier25 3y ago
  I was recently surprised to learn that Grupo Modelo (the beer group that makes Corona) is actually owned by a Belgian corp.
  - yostrovs 3y ago
    No. From Wikipedia: On June 12, 2008, The Wall Street Journal stated that Anheuser-Busch InBev, which owned a non-controlling 50% stake in the company, might attempt to acquire the remaining 50%.[3] On June 29, 2012, it was announced that Anheuser-Busch InBev would acquire the remaining 50% stake for an all-cash price of $20.1 billion.[4] On January 31, 2013, the US Department of Justice filed an antitrust suit in an attempt to prevent the buyout. The matter was settled, and the two companies merged in June 2013,[5] with the transfer of all United States rights to Constellation Brands.[6] As a result, all the company's brands are made (in Mexico) by an unrelated company. In the United States, Grupo Modelo brands are distributed by Constellation Brands. https://en.m.wikipedia.org/wiki/Grupo_Modelo https://en.m.wikipedia.org/wiki/Grupo_Modelo
    - pier25 3y ago
      Doesn't a Belgian corp (InBev) own the Mexican Grupo Modelo in Mexico? And in the rest of the world too excluding the US.

alephnerd 3y ago

> those Mexican factories are owned by Chinese firms Not really. The bulk of FDI in Mexico comes from the US, EU, Canada, UK, and Japan [0] The China factor plays well in the news but German (Siemens, Schneider) and Spanish (SEAT/Volkswagen) have a massive historical presence in Mexican industry, and at the end of the day, NAFTA/USMCA makes it very easy for American companies to operate within Mexico (and vice versa). [0] - https://www.proyectosmexico.gob.mx/en/why_mexican_infrastructure/solid-and-open-economy/investment-destination/ https://www.proyectosmexico.gob.mx/en/why_mexican_infrastruc...

givemeethekeys 3y ago
Those look like pre-pandemic numbers. https://www.freightwaves.com/news/chinese-manufacturer-investing-5b-to-expand-production-in-mexico https://www.freightwaves.com/news/chinese-manufacturer-inves... says 5 Billion, so perhaps the landscape is changing rapidly.
- alephnerd 3y ago
  Even in 2023 China's FDI in Mexico is tiny [0]. The 5 largest FDI contributors are US, Spain, Germany, Argentina, and Japan. Take the L dude. A couple high profile assembly plant openings don't signify a massive change in foreign investment patterns in a country with a Trillion Dollar GDP [0] - https://www.cefp.gob.mx/publicaciones/documento/2023/cefp0452023.pdf https://www.cefp.gob.mx/publicaciones/documento/2023/cefp045...

simpletone 3y ago

Nope. Most of mexico, and latin america, is owned by europeans. Just tiny netherlands alone invests and owns more of latin america than china. Always wondered where the dutch get their money. The myth about china's money is entirely that. Myth spread by propagandists. When you look at the numbers, europeans are buying up most of the world. Look at brazil. The dutch pump more money into brazil than the US. https://www.statista.com/statistics/749238/fdi-brazil-by-country-of-origin/ https://www.statista.com/statistics/749238/fdi-brazil-by-cou... But you won't see that in the news. If you do it won't be portrayed in a threatening manner. It's always the chinese or the japanese or the arabs buying up everything. When the numbers tell you otherwise.

blovescoffee 3y ago
No. Maybe a large portion of the Foreign investment is owned by Europeans but "most of mexico and latam" are definitely not owned by Europeans. Have you ever spent any time in LATAM?
pier25 3y ago
I was recently surprised to learn that Grupo Modelo (the beer group that makes Corona) is actually owned by a Belgian corp.
- yostrovs 3y ago
  No. From Wikipedia: On June 12, 2008, The Wall Street Journal stated that Anheuser-Busch InBev, which owned a non-controlling 50% stake in the company, might attempt to acquire the remaining 50%.[3] On June 29, 2012, it was announced that Anheuser-Busch InBev would acquire the remaining 50% stake for an all-cash price of $20.1 billion.[4] On January 31, 2013, the US Department of Justice filed an antitrust suit in an attempt to prevent the buyout. The matter was settled, and the two companies merged in June 2013,[5] with the transfer of all United States rights to Constellation Brands.[6] As a result, all the company's brands are made (in Mexico) by an unrelated company. In the United States, Grupo Modelo brands are distributed by Constellation Brands. https://en.m.wikipedia.org/wiki/Grupo_Modelo https://en.m.wikipedia.org/wiki/Grupo_Modelo
  - pier25 3y ago
    Doesn't a Belgian corp (InBev) own the Mexican Grupo Modelo in Mexico? And in the rest of the world too excluding the US.