chinese investors: Chinese firms should also seize the opportunity and commit to building its core competitive strength to climb up the global automotive value chain amid an industry supply chain restructuring worldwide, according to Global Times China. Last week, Ford announced it was scrapping a plan to build a 1.6 billion plant in Mexico and instead would invest 700 million into an existing plant in Michigan. Instead of mourning the loss of the US carmaker, Mexico should seek greater partnership with China and offer incentives to Chinese investors to attract them to the country. The move will certainly impact Mexico's economy which relies heavily on US investment and exports to the US market. But such a situation does not need to be the death of the Mexican auto industry. To rub salt in the wound, US President-elect Donald Trump has threatened to slap a hefty border tax on Toyota and General Motors cars made in Mexico for the US market.
(news.financializer.com). As
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