Mexico’s competitiveness before China increasing
Baja California, Mexico.- Representatives from Baja California State Economists Association, Colegio Estatal de Economistas de Baja California (CEEBC), said that Mexico’s competitiveness before China in international manufacturing industry has been significantly increased.
Luis Felipe Ledezma Gil, Chairman, CEEBC, pointed-out that one of the factors to attract and retain foreign investment in Mexico is current inflation on salaries and wages in China.
He also said that if manufacturing industry in Mexico has expanded, it is because value added has gone up, going from basic textiles and shoes to producing chips for cell phones, transmission equipment and plasma screens.
However, he said that according to the Economic Commission for Latin America and the Caribbean (ECLAC), Mexico only invests 0.3% of its Gross Domestic Product in Science and Technology, while other countries from the Organization for Economic Cooperation and Development (OECD) allocate 3%, “if no attention is given to this situation, there will be long term consequences”, he said.
Source: El Mexicano | Date: 16/08/2012