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China’s trade with Mexico is not reciprocal, says finance minister, echoing US concerns
- Mainland GDP growth comes ‘at expense of North America’, so only logical that both Americans and Mexicans demand fair share of global demand
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Igor Patrickin Washington
Sino-Mexican trade is not reciprocal and the North American country must review China’s practices, its finance minister said on Saturday, echoing American concerns about industrial overcapacity.
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Mexico buys “US$119 billion a year from China and we sell US$11 billion”, according to Rogelio Ramirez de la O, who accused Beijing of boosting its share of global exports “at the expense of North America”.
Washington had “facilitated China’s entry into the World Trade Organization, opening the door for [Beijing] to increase its production destined for North America – not only for the US but also for Mexico”, he continued.
“China has increased its global exports from 3.8 per cent to 14 per cent in just 22 years, and this increase has largely come at North America’s expense,” Ramirez de la O said.
Meanwhile, the region’s share of global exports “has fallen from 19 per cent in 2000 to 13 per cent in 2022”, he added.
Ramirez de la O offered the critical observations during an event in the Mexican city of San Luis Potosi attended by President Andres Manuel Lopez Obrador, President-elect Claudia Sheinbaum and incoming economy minister Marcelo Ebrard.
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