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Speaker 1: For decades, US companies trying to cut costs and stay

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Speaker 1: competitive have resorted to offshoring, sending jobs and sometimes their

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Speaker 1: entire operations, to China and other faraway places where they

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Speaker 1: can make their products for less. But recently some companies

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Speaker 1: have started to rethink where they want to be with

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Speaker 1: rising US China tensions and painful pandemic lessons about what

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Speaker 1: happens when your product is stranded thousands of miles away

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Speaker 1: from your customers, and now jobs are coming back west.

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Speaker 1: Instead of offshoring, we've got the reverse. It's being called

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Speaker 1: near shoring, because who doesn't love a catch hraise. The

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Speaker 1: key word here, though, is near. A lot of those

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Speaker 1: jobs aren't quite coming all the way back. Bloomberg's Leeda

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Speaker 1: Alivim and Maya Avrobuck report that hundreds of companies serving

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Speaker 1: American consumers are instead relocating to Mexico, much closer than

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Speaker 1: Asia but less expensive than operating in the US.

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Speaker 2: You can literally drive from Mexico for the city of

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Speaker 2: Monterrey to the US border in less than three hours

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Speaker 2: without hitting one single red light, so that's one of

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Speaker 2: the big selling points.

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Speaker 3: I think what's kind of funny about it is that

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Speaker 3: you can walk into an industrial park like that and

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Speaker 3: you have like a giant cookie maker next to an

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Speaker 3: auto parts maker, and they're all really there for the

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Speaker 3: same purpose, which is that there's land. It's near the border.

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Speaker 1: I'm Westcsova today on the big take, Mexico is open

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Speaker 1: for business, Lada. I had no idea that there was

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Speaker 1: so much business and industry pouring into Mexico right now.

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Speaker 1: Why exactly is this happening?

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Speaker 2: So it all started with tensions between the US and China.

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Speaker 2: Since the pandemic has been rewiring global trade around the world,

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Speaker 2: and now people and companies are looking to change and

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Speaker 2: expand their operations closer to where their client is. So

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Speaker 2: a lot of companies that we're seeing, and what we

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Speaker 2: talk about in the story is they're moving or expanding

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Speaker 2: operations in Mexico as a way to serve the US.

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Speaker 1: For a lot of years, we heard about offshoring, this

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Speaker 1: idea that you move production overseas where it's cheaper, and

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Speaker 1: this seems to be the exact opposite of that.

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Speaker 2: So now we're seeing the trend of near shoring, and

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Speaker 2: Mexico is in the center of this new trend, especially

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Speaker 2: the northern region of Mexico, including the state of Revollon

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Speaker 2: where Monterey in the capital, Tesla announced a five billion

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Speaker 2: dollar investment to build its new gigafactory.

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Speaker 1: Even with these tensions, why is it an advantage to

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Speaker 1: be in Mexico.

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Speaker 3: Obviously, the US is a huge market. That means US

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Speaker 3: consumers are buying products from around the world. If they're

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Speaker 3: in Mexico, and especially in northern Mexico, they can just

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Speaker 3: drive across the border. And it's a convenient for a

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Speaker 3: lot of companies. Also because it's cheaper to produce in

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Speaker 3: Mexico than in the US. And so not all companies

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Speaker 3: are moving to Mexico, but there's certainly companies that are

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Speaker 3: looking at the country and thinking, I'm going to be

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Speaker 3: a few hours from the US. I can appeal to

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Speaker 3: different markets in this way, and I can guarantee to

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Speaker 3: my customers that they're not going to have supply chain

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Speaker 3: disruptions in the way that they did in the pandemic.

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Speaker 1: And you spoke to people involved in operating some of

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Speaker 1: these businesses in Mexico. Here's one of them.

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Speaker 4: My name is so Semodia Rasa. I'm the CEO of

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Speaker 4: Presido IP, the relement and construction right in Mexico northeast

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Speaker 4: of Mexican. Remember, we got nineteen one hundred miles of

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Speaker 4: border with the US, which is the largest market in

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Speaker 4: the world, and based on the US and Free Trades

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Speaker 4: agreement in Mexico had an our companies established in Mexico,

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Speaker 4: none only to supply the US market, also to supply

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Speaker 4: the world.

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Speaker 1: My side from Mexico has been close to the US.

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Speaker 1: You're right that there are a lot of advantages to

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Speaker 1: moving a company to Mexico.

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Speaker 3: Mexico is a country that's been developing manufacturing, especially near

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Speaker 3: the border, since the sixties, and it's had this massive

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Speaker 3: trade deal with Canada and with the US since the nineties,

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Speaker 3: and so this is not like a new game for Mexico.

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Speaker 3: The auto industry was already here, and so when auto

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Speaker 3: companies are talking about switching to evs and are talking

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Speaker 3: about selling EVS to US consumers, for many of them,

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Speaker 3: it's reoutfitting operations that they already have. A lot of

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Speaker 3: the investment that's coming into Mexico from foreign companies is

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Speaker 3: also building on plants that are already here. They're companies

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Speaker 3: that are adding a second or a third plant, and

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Speaker 3: so they kind of have the know how of what

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Speaker 3: Mexico looks like. It's a country. Again, there are a

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Speaker 3: lot of people work in manufacturing. It's a big source

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Speaker 3: of employment. There are a lot of trained engineers. There's

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Speaker 3: a lot of people who are looking to work in

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Speaker 3: these industries. And so for companies who are moving here

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Speaker 3: or trying to expand operations, that's an advantage. And then

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Speaker 3: for all those little companies or mid size companies, they're

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Speaker 3: part of a chain. Right. So a company like Tesla

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Speaker 3: might move to Mexico and it brings with it other

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Speaker 3: companies in its wake. It needs suppliers for all its

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Speaker 3: different parts and needs someone to make the plastic components

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Speaker 3: the metal components in every car, and Tesla's not going

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Speaker 3: to do all of that itself. So the kind of

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Speaker 3: assembly work that happens in these big manufacturing centers in

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Speaker 3: Mexico is something that Mexico has been doing for decades

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Speaker 3: and that it's really good at and companies want to

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Speaker 3: keep doing that here, but at a bigger scale.

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Speaker 2: Now you can literally drive from Mexico for the city

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Speaker 2: of Monterrey to the US border in less than three

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Speaker 2: hours without hitting one single red light. So that's one

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Speaker 2: of the big selling points of Mexico bringing those companies

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Speaker 2: and attracting those investments into the region, which also raises

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Speaker 2: an issue that even the government has been actively talking about.

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Speaker 2: It's how the investment across the country is a little

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Speaker 2: bit divided between the north region and the south. So

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Speaker 2: we see a lot of even the government itself trying

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Speaker 2: to pull more investments from companies abroad to the southern regions,

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Speaker 2: which hasn't been a lot of the case because if

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Speaker 2: all those companies are coming to the northern region, they

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Speaker 2: also are facing some certain challenges because of that big demand,

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Speaker 2: and we see that with industrial park space, we see

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Speaker 2: that with the challenges around infrastructure and how it's not

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Speaker 2: able to keep up that big demand. And they're trying

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Speaker 2: their best to speed up the investments around, but many

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Speaker 2: still think that's not enough and there's still more to do.

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Speaker 2: The current governor of the president and Esminuel Loprezo Brador,

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Speaker 2: who is known as AMLO, is focusing its last term

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Speaker 2: in office on building and developing its big product of

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Speaker 2: a railroad that will connect both the Pacific and the

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Speaker 2: Gulf of Mexico, and they're selling it that it will

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Speaker 2: rival the Panama Canal, and I.

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Speaker 1: Want to talk a little bit more about some of

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Speaker 1: those big challenges that Mexico is facing out as so

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Speaker 1: many companies are flocking there. But first let's talk a

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Speaker 1: little bit more about what kinds of companies are showing

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Speaker 1: up in Mexico and Maya. You talked a little bit

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Speaker 1: about Tesla, and one of the things that just stood

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Speaker 1: out to me in your story was the incredible gravitational

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Speaker 1: pull that Tesla's new plant there has brought, and how

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Speaker 1: many other companies are coming in to support it.

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Speaker 3: The Economy Ministry the state, Ivan Rivas, told us that

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Speaker 3: he estimated that some thirty companies had moved to the

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Speaker 3: state in the last few years, both because of the

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Speaker 3: Tesla plant that's going to be built in Mexico and

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Speaker 3: another Tesla factory that was built in Austin, Texas. And

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Speaker 3: so these are the parts suppliers, right, These are the

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Speaker 3: people who make the windshield and the brakes and the

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Speaker 3: machines that make it possible for there to be self

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Speaker 3: driving cars on the road. Obviously a lot of those

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Speaker 3: providers don't just sell to Tesla. They can sell the

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Speaker 3: same kinds of products to all different kinds of companies.

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Speaker 3: And so you see companies that sell some products to

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Speaker 3: the auto's market, some products to other people, and they're

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Speaker 3: working with plastics and metals, and so, yeah, Tesla has

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Speaker 3: kind of been a selling point for the government. There

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Speaker 3: was a lot of hype later.

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Speaker 1: With all these companies coming to Mexico. How much does

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Speaker 1: all this investment work?

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Speaker 4: Well?

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Speaker 2: The Mexican economy has been recording export figures over the

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Speaker 2: last few months as a result of this near shoring boom.

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Speaker 2: Just an example, in May, shipment rows five point eight

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Speaker 2: percent from a year ago, reaching fifty two point nine

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Speaker 2: billion and recording the second highest print on record. Just

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Speaker 2: this year in general has been record breaking for Mexico

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Speaker 2: in this terms of exports. And even to put into

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Speaker 2: some context when we talk about this foreign direct investment

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Speaker 2: is how much are we seeing in Mexico coming in?

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Speaker 2: Mexico received twenty nine billion in foreign direct investment in

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Speaker 2: the first half of twenty twenty three, in which most

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Speaker 2: of that money comes from the US since it is

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Speaker 2: the number one buyer of goods, and the amount represents

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Speaker 2: just forty one percent increase from that same period a

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Speaker 2: year before, and even bisector fifty seven percent is manufacturing,

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Speaker 2: so we definitely see that shift.

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Speaker 3: I would also just say we talk a lot about

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Speaker 3: auto because they're these huge consumer products for the US

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Speaker 3: because there's a shift to eves and incentives in the

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Speaker 3: US for people to do that, and some of those

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Speaker 3: cars are being made in Mexico. And the auto and

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Speaker 3: transportation sector was responsible for one hundred and fifty billion

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Speaker 3: dollars of exports from Mexico to the US this year.

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Speaker 3: But we also see things like computers and electronics and furniture,

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Speaker 3: and there's this huge increase in exports of beverages and tobacco.

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Speaker 3: So there's this real diversity of products that are going

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Speaker 3: from Mexico to the US.

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Speaker 1: And another thing that you talk about that's really very interesting,

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Speaker 1: especially when we're talking about the relationship between the US

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Speaker 1: and China, is how many of the companies moving to

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Speaker 1: Mexico that are Chinese companies.

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Speaker 2: Yeah.

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Speaker 3: Absolutely, I think that Chinese companies sell to all kinds

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Speaker 3: of different suppliers and data. I want to be left out.

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Speaker 3: Those Chinese companies want to be part of experts to

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Speaker 3: the US, and if they're operating in Mexico, they're not

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Speaker 3: going to be facing the same kinds of tariffs as

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Speaker 3: if they were producing still in China, and.

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Speaker 1: Lady, you're write that this is kind of one way

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Speaker 1: that China is keeping its hand in and not losing

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Speaker 1: out on all that business even if they're not producing

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Speaker 1: it at home.

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Speaker 2: Right, they want to follow that trend. And just to

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Speaker 2: mention that this past month in China was very tough

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Speaker 2: in general with the slow down and the economic troubles,

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Speaker 2: which is putting Mexico in an even better position in

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Speaker 2: terms of its relationship to the US. We're seeing that

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Speaker 2: Mexico is being uplifted by it and it's boosting its

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Speaker 2: position and its relationship with the US. And just in July,

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Speaker 2: it officially became the biggest import for the US. They're

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Speaker 2: passing China that has for long been the number one.

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Speaker 3: One study from the Bank BBVA suggested that in the

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Speaker 3: next couple of years, one in five foreign investments in

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Speaker 3: Mexico would come from Chinese companies. So they're having this

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Speaker 3: growing role in new investments in the country. And while

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Speaker 3: other companies are expanding, it looks like the new ones

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Speaker 3: that are moving in definitely include a lot of these

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Speaker 3: Chinese firms.

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Speaker 1: After the break with so many new factories cropping up,

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Speaker 1: does Mexico have the infrastructure to handle it. Mayo. We

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Speaker 1: mentioned earlier that all of this investment that companies are

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Speaker 1: bringing are also coming with a certain amount of headaches

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Speaker 1: that Mexico wants them to come, but they don't have

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Speaker 1: the infrastructure to support all of this industry. Yet what

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Speaker 1: are they doing about that.

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Speaker 3: Companies have to make a decision about whether they're willing

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Speaker 3: to run into certain kinds of risks when they're deciding

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Speaker 3: to invest, because these are long term investments. So one

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Speaker 3: of the issues is a shortage of water. There was

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Speaker 3: a huge drought that affected northern Mexico last year. In

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Speaker 3: Monterrey specifically, where we're seeing this huge business boom. There

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Speaker 3: are a lot of people without water for many days

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Speaker 3: on end. And there's some kinds of solutions, like the

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Speaker 3: government is working on building a new aqueduct to the

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Speaker 3: city to bring more water to it, but that's not

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Speaker 3: going to get rid of drought or get rid of

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Speaker 3: climate conditions that are making this part of the country difficult.

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Speaker 3: AMLO's government has said, well, why don't companies go to

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Speaker 3: states where there's more water. It's going to be easier

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Speaker 3: to guarantee them supply, and that there's a population issue,

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Speaker 3: which is, if you build a bunch of factories, you

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Speaker 3: need people to work in those factories, and those people

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Speaker 3: are going to need water, and the country simply might

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Speaker 3: not have it in certain states that have traditionally been

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Speaker 3: the hot bet of investment, manufacturing, and therefore exports. The

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Speaker 3: other issues are things like the electricity grid. We talked

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Speaker 3: to one manager at a plant who talked a lot

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Speaker 3: about the headache of having power outages and the fact

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Speaker 3: that he had to scrap some of the products that

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Speaker 3: they were developing because their production lines would suddenly shut down.

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Speaker 3: And Mexico is certainly working on expanding its grid. There's

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Speaker 3: been a big battle during this administration of exactly who

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Speaker 3: should be responsible for electricity production and distribution, whether the

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Speaker 3: state should have a bigger role, or private industry should

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Speaker 3: have a bigger role, whether renewables should have a bigger

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Speaker 3: part in the industry as well. And we've seen some

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Speaker 3: companies try to find workarounds they can produce some amount

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Speaker 3: of their own electricity, but not the bulk of it

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Speaker 3: for the scale of operations that we're talking about.

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Speaker 5: All My name is Spidro GRANMPA. I'm responsible for the

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Speaker 5: operations of Quanta in Mexico. There's plenty of people talking

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Speaker 5: about nilshore, and there's plenty of people talking about what

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Speaker 5: the SATs made in China can said and the future

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Speaker 5: made in Mexico. But I don't see, and this is

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Speaker 5: my personal opinion, I don't see interialist strategy. Let's go

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Speaker 5: to that way from our fertort is together with a

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Speaker 5: tat autor it is about how to facilitate those processes

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Speaker 5: or being set up in Mexico. So near shoring is

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Speaker 5: going to happen to Mexico. Don't know if it's going

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Speaker 5: to happen to the contential.

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Speaker 1: Later. I guess another thing that they're facing is just

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Speaker 1: finding enough workers. In the US, where there's also a

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Speaker 1: lot of investment going into building chips and cars and

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Speaker 1: other sorts of products, finding people who are skilled to

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Speaker 1: do that work has been a real challenge. Does Mexico

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Speaker 1: have enough people to fill out the ranks about these companies, I.

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Speaker 2: Think it's a constant growth. When we went to Montere,

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Speaker 2: one of the selling points as well that the advertise

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Speaker 2: is the skilled workforce. They talk about a lot of

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Speaker 2: their universities and how it's very specialized for their teachings

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Speaker 2: and how much they can add to the workforce coming

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Speaker 2: into this production.

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Speaker 3: It depends if you need to hire sort of an

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Speaker 3: engineer specialized in certain computers, or if you need to

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Speaker 3: hire sort of assembly line workers who are going to

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Speaker 3: be manually putting together parts. Certainly, Mexico has a lot

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Speaker 3: of workers, and there's a competition between companies. We've heard

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Speaker 3: about companies training workers and then having those same workers

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Speaker 3: be poached by other companies because there is a high

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Speaker 3: level of demand right now. Unemployment in Mexico is a

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Speaker 3: historic lows at the moment because there is such a

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Speaker 3: great desire for this workforce. And you know, that doesn't

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Speaker 3: mean that there aren't still people leaving Mexico to go

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Speaker 3: work in the US where there are much higher wages,

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Speaker 3: but it does mean that part of what's attractive about

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Speaker 3: some of these big cities that already have a lot

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Speaker 3: of manufacturing or experience in aerospace or in electronics is

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Speaker 3: that they do have a certain amount of trained people.

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Speaker 1: We've talked about how the US is glad that a

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Speaker 1: lot of these companies are moving to Mexico away from China,

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Speaker 1: But is there any tension with the US? Joe Biden

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Speaker 1: has a big plan to try to bring back a

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Speaker 1: lot of manufacturing to the US. Is the US at

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Speaker 1: all trying to lure those companies not to Mexico but

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Speaker 1: to the United States.

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Speaker 3: This is a tricky thing for the US government. We've

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Speaker 3: seen some firms look at both Mexico and the US

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Speaker 3: and in the end have to make a decision about

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Speaker 3: where they're going to end up. So we know that

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Speaker 3: there is a certain amount of competition at the level

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Speaker 3: of individual companies who are kind of going on tours

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Speaker 3: and trying to figure out what's convenient for me. That said,

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Speaker 3: this is a three way trade agreement between Mexico and

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Speaker 3: the US and Canada. In theory, it is still beneficial

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Speaker 3: for the US government to have these companies moving to

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Speaker 3: North America. Certainly, as you said, it might not want

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Speaker 3: a big chunk of those companies to be Chinese companies,

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Speaker 3: but it does want to have availability of products, and

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Speaker 3: there's a lot of back and forth production. Right There's

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Speaker 3: certainly some industries where we see plans for cross border production,

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Speaker 3: like with semiconductors, but investing in one place doesn't necessarily

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Speaker 3: mean leaving out the other.

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Speaker 1: Later. Another question that often comes up about Mexico is crime,

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Speaker 1: especially the drug cartels and violence. How does that enter

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Speaker 1: into the calculations that companies thinking about Mexico are making.

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Speaker 2: They say, while it's still a concern, it's not yet

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Speaker 2: the stopping point for us to be like we're moving

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Speaker 2: to the US or we're not thinking about Mexico. But

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Speaker 2: many say that the benefits outweigh the risks in terms

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Speaker 2: of what Mexico has been facing. So when they look

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Speaker 2: at it, they look in the bigger picture, and when

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Speaker 2: the plan to expand their operations in North America, they

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Speaker 2: still see that Mexico has a better value with labor

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Speaker 2: costs and the production and they do make that decision

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Speaker 2: to continue despite the challenges.

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Speaker 1: Here's hose Maria Garza again, he's the CEO and president

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Speaker 1: of GP Development and Construction.

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Speaker 4: Well, if you look at it from all perspective, construction

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Speaker 4: and regal state is cheaper here than the US. Leases

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Speaker 4: are less here than the US. We have access to

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Speaker 4: the same finance, and our constructure costs is way lower,

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Speaker 4: I will say forty fifty percent lower than the US.

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Speaker 4: And manufacturing costs here in Mexico steel we are very

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Speaker 4: very competitive worldwide. We can compete with any country.

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Speaker 2: In the world.

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Speaker 1: When we come back, Maya and Leda, tell us what

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Speaker 1: this business boom looks like on the ground in Monterey. Lady,

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Speaker 1: you mentioned how you and Maya went to Monterey, which

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Speaker 1: is the site of so much of this activity. What's

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Speaker 1: it like there? What did you see?

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Speaker 2: It's a boomtown. It's a city that is continuously growing,

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Speaker 2: and it's very industrial. You'll drive around the roads and

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Speaker 2: you see big trucks just clogging the highways.

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Speaker 3: Yeah, I mean, I think that developers are super excited

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Speaker 3: about the amount of growth that is happening. It also

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Speaker 3: means that the city is growing outwards, and so there

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Speaker 3: are huge industrial areas where developers are trying to put

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Speaker 3: up buildings that they think they can sell really quickly.

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Speaker 3: And they can think they can sell them when they're

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Speaker 3: half done, when there's no windows, when there's no ceiling

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Speaker 3: yet there's no doors. But there are companies that are

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Speaker 3: interested enough that they'll put money down and say, okay,

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Speaker 3: I want that building. Other companies are buying space instead

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Speaker 3: of renting. Rental times have gone up, and so you

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Speaker 3: walk around between these massive buildings that are in the

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Speaker 3: middle of construction zones. But are still operating. Companies that

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Speaker 3: already there are putting up new buildings nearby, and so

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Speaker 3: everything looks a little bit half finished, and it's really

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Speaker 3: hot in summer. I have to say that's another challenge

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Speaker 3: for people who live and work there. And all of

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Speaker 3: these trucks are kicking up dust on the rate of

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Speaker 3: the border and they get stuck in traffic jams, and

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Speaker 3: you can see people from different parts of the world

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Speaker 3: who have sent representatives to try to figure out is

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Speaker 3: Mexico the right place for us? Where all these other factors,

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Speaker 3: you know, the heat, the building space that isn't that

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Speaker 3: available right now, the electricity, the crime, whatever it is,

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Speaker 3: are going to make it not that preferable.

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Speaker 1: And so we have all this activity pouring into Mexico,

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Speaker 1: and yet one of the things you write is that

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Speaker 1: there's a concern that this could be a cautionary tale,

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Speaker 1: that Mexico has seen this kind of growth in them

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Speaker 1: passed and it didn't last.

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Speaker 3: I think there was an idea in the nineties and

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Speaker 3: even before that exports were going to be the big

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Speaker 3: answer for the Mexican economy, that it was going to

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Speaker 3: turn into this great manufacturer and this would make all

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Speaker 3: the difference for its population, that people would be better

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Speaker 3: off essentially because of all of this manufacturing, and that

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Speaker 3: didn't exactly turn out as maybe the politicians at the

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Speaker 3: time expected. Since NAFTA went into effect in nineteen ninety four,

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Speaker 3: which is the free trade agreement between Mexico, the US,

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Speaker 3: and Canada, I think Mexico since then has had growth

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Speaker 3: on average of about two percent, which is okay, but

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Speaker 3: it also means that it's been surpassed in growth by

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Speaker 3: other countries that were doing worse than it at the

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Speaker 3: start of the century. Countries like Turkey or Poland or

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Speaker 3: Malaysia that are now bet are off, and so I

390
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Speaker 3: think there's this sense in Mexico that maybe the bet

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Speaker 3: on cheap labor in manufacturing and exports to the US

392
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Speaker 3: didn't exactly work out. There's still millions of people in poverty.

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Speaker 3: There's certain government programs that have helped to reduce the

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Speaker 3: poverty figure, but over a third of the country still

395
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Speaker 3: lives in poverty, and a ton of people migrate still

396
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Speaker 3: because they don't have enough work opportunities, and there's a

397
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Speaker 3: big division in the country, and obviously a lot of

398
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Speaker 3: states where the trade agreements have not worked in their favor.

399
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Speaker 3: There are places that had a lot of agricultural small

400
00:23:40,760 --> 00:23:44,560
Speaker 3: scale agriculture of different kinds that were affected by all

401
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Speaker 3: of the imports from the US, things like us Coorn

402
00:23:47,920 --> 00:23:51,639
Speaker 3: and those areas of the country weren't benefited by the

403
00:23:51,680 --> 00:23:54,480
Speaker 3: trade agreements high in the nineties. There have been efforts

404
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Speaker 3: since then to revise the trade agreement to make sure

405
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Speaker 3: that it's more beneficial, to make sure that there's more

406
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Speaker 3: attention to labor rights, But fundamentally, this is still a

407
00:24:06,080 --> 00:24:09,960
Speaker 3: bet on exports, right It's a bet that exporting more

408
00:24:10,080 --> 00:24:13,320
Speaker 3: will make Mexico richer, and if it becomes richer, the

409
00:24:13,359 --> 00:24:16,640
Speaker 3: people who live there will become richer. That hasn't exactly

410
00:24:16,680 --> 00:24:19,800
Speaker 3: turned out to be the case. So I think there's

411
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Speaker 3: this big question of who is going to end up benefiting.

412
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Speaker 3: Is it going to be the foreign companies who are

413
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Speaker 3: getting a really good deal because they are moving to

414
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Speaker 3: a country that still has a lower cost labor force,

415
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Speaker 3: they're finding open land that they can develop and it

416
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Speaker 3: can continue to the export to the US market, Or

417
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Speaker 3: is it Mexico and Mexicans who are working in all

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Speaker 3: of these factories who are going to end up benefiting.

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Speaker 1: Later when you look down the road a year from now,

420
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Speaker 1: five years from now, where do you see this story heading.

421
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Speaker 2: I think Mexico will still be looking to continue to

422
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Speaker 2: enjoy this opportunity with near shoring as it attracts more

423
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Speaker 2: companies coming into the country and take advantage of that.

424
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Speaker 2: It's a big moment for Mexico. Now it's a matter

425
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Speaker 2: of how they're going to take advantage of it for

426
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Speaker 2: next years. We're seeing exports surging and hitting records. Will

427
00:25:17,560 --> 00:25:21,359
Speaker 2: continue to see that trend moving forward, especially as companies

428
00:25:21,520 --> 00:25:25,399
Speaker 2: establish themselves and officially begin operating in the country in

429
00:25:25,440 --> 00:25:29,440
Speaker 2: the coming years. So I think going into next year's elections,

430
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Speaker 2: it's a matter to see what are the candidates' plans

431
00:25:32,600 --> 00:25:35,320
Speaker 2: to continue this trend of near shoring and to continue

432
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Speaker 2: to attract the companies so that Mexico can fully take

433
00:25:38,359 --> 00:25:42,360
Speaker 2: advantage of this moment that's been presented and not repeat

434
00:25:42,440 --> 00:25:45,119
Speaker 2: history as it's been for the last few years.

435
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Speaker 3: I think it's also an interesting election race. Right we

436
00:25:48,600 --> 00:25:53,280
Speaker 3: have two leading women candidates, the candidate for the party

437
00:25:53,400 --> 00:25:56,919
Speaker 3: of the president and the candidate for the opposition, So

438
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Speaker 3: it's pretty likely that Mexico will have a women president

439
00:26:00,040 --> 00:26:02,560
Speaker 3: for the first time starting at the end of twenty

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Speaker 3: twenty four. Certainly, both of these candidates are promising that

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Speaker 3: they're women of the people, that they are going to

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Speaker 3: pay attention to poverty, to the security issues, and that

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Speaker 3: they are going to make sure that the country keeps growing.

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Speaker 3: But exactly how they plan to do that, we don't

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Speaker 3: know yet.

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Speaker 5: Hopefully we'll get our act together and whatever it's say

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Speaker 5: in my inn a China becomes Nada Mexico.

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Speaker 1: Sooner leta maya. Thanks so much. This was just fascinating.

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Speaker 2: Thank you, Thank you.

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Speaker 1: Thanks for listening to us here at The Big Take.

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Speaker 1: another big take.