Given the importance of its economic ties with China, Mexico must formulate a coherent strategy with that country and the United States, warned Enrique Dussel Peters, coordinator of the Mexico-China Studies Center (Cechimex), belonging to the UNAM.
In the document Aspects for a Mexico-China strategic agenda. New triangular relationships
the specialist considered that it is imperative that the Mexican authorities develop a plan with the Asian country, given the relationship that both have in terms of investments, infrastructure and trade.
This strategy would also require a maximum degree of coordination between the Mexican institutions responsible for the respective topics.
of the bilateral relationship, said the also collaborator of The Day.
However, he indicated that the definition of this plan must be triangular and include the United States.
He pointed out that before the undeniable confrontation
between Washington and the Asian giant, particularly over the USMCA, Mexico “must simultaneously formulate a coherent course of action.
Not addressing this new triangular relationship simultaneously would imply denying the economic relevance of the United States and China for Mexico.
he pointed out.
Dussel Peters recalled that the Asian country is Mexico’s second trading partner, in addition to being the most dynamic in foreign trade, because while China participated with less than 1 percent of Mexico’s foreign trade until 2000, by 2023 it represented 10.43 percent, making it the second importer and third destination of Mexican exports.
Import displacement
The expert commented that for Mexico the substitution of American purchases for Chinese ones has been profound, since while in 1996 imports from the United States to Mexico amounted to 75.49 percent, by 2023 they fell to 42.68 percent. It has become the first importer in global value chains, such as electronics and auto parts.
said.
He noted that last year 83 percent of Chinese imports consisted of intermediate and capital goods, that is, they are essential for the transformation processes in Mexico.
From a technological perspective, Mexican exports of medium and high technological level products to China have represented more than 40 percent since 2015, while medium and high technological level imports from China have exceeded 70 percent of the total imported since 2002.
he indicated.
He noted that after decades of integration between Mexico and the Asian giant in the 21st century, the Chinese added value compared to the external value added in total Mexican exports and the United States in 2020 was 21.2 percent and 21.4 percent, respectively. This is the highest level of Chinese value added since 1995
.
Enrique Dussel Peters also highlighted that one of the main areas in Mexico’s bilateral relationship with China is infrastructure, since the Asian country has carried out at least 36 projects for more than 8.2 billion dollars from 2019 to 2023 and generated almost 170 thousand jobs.
He noted that between 2000 and 2023, 77.22 percent of the works in which the Asian giant participated were in the transportation sector, while 22.61 percent corresponded to the energy sector.