Also in the news...
Foreign Office travel advice updates
Latest travel information for British nationals affected by the situation in the Middle East.
Check if you need a UK visa
You may need a visa to come to the UK to visit, study or work.
Apply to use simplified declarations for imports you entered in your records without authorisation
Choose how you’ll make supplementary declarations for goods that you entered into your own records without authorisation.
UKEF backs Leicester sustainable packaging firm in Australian expansion
UK Export Finance announces support for a UK luxury sustainable packaging company to expand into new foreign markets.
Hundreds of new UK jobs as Nigerian companies confirm millions in investment
Hundreds of new UK jobs are set to be created as Nigerian companies scale up their operations, reinforcing Britain's position as a leading global business hub.
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