Also in the news...
Countering sanctions evasion: guidance for freight and shipping
For freight forwarders, carriers, hauliers, customs intermediaries, postal and express operators, and other companies facilitating the movement of goods.
International Compliance Tips for Entrepreneurs Going Global
While expanding across borders can accelerate business growth, it also raises the stakes when it comes to staying legally compliant.
Cutting Administrative Burdens When Trading Abroad
From customs declarations to inventory tracking across borders, the paperwork and compliance requirements can quickly become overwhelming for growing companies.
Temporary agreement between the Swiss Confederation (Switzerland) and the UK on services mobility
Temporary agreement documents and the exchanges of notes extending the agreement.
Decision. UK-Central America committee documents
Decisions, documents and meeting minutes from UK-Central America countries committees.
Why China Will Start Off-Shoring to Mexico
Mexico’s manufacturing boom has proceeded in stages. At first, it was built on auto manufacturing. While that continues to surge, American companies have now started relocating simpler manufacturing from China to Mexico.
There are many reasons for this newer wave of manufacturing. Mexican labor has long been more productive than Chinese labor. Now, as Chinese wages keep rising, it’s expected that Mexican manufacturing labor will cost 30 percent less than Chinese labor by next year, after you adjust for productivity. It’s also easier for US firms to oversee operations in Mexico. And thanks in part to the US natural gas glut, energy costs are far lower in Mexico than in China.
As a result, a slew of US companies like headset-maker Plantronics and hula-hoop maker Hoopnotica have been shortening their supply lines, moving their manufacturing capacity from China to Mexico. It’s a striking trend for those of us who saw the eagerness with which so many North American businesses set up manufacturing in the World’s Factory over the past 20 years.
But now, you should get ready for a more striking trend: Chinese companies will start moving their own manufacturing to Mexico.
Read the rest of the article here