Major media outlets such as Forbes and The Miami Herald are taking notice of the ever-changing relationship – and sometimes rivalry – between Mexico and China. From the enormous Chinese Dragon Mart that is currently being built in Cancun,to the growing appeal of Mexico real estate over China for U.S. exporters and other businesses worldwide,there is no doubt this story has only just begun.
Just a few weeks from its official groundbreaking,the $180 million Dragon Mart Cancun is making headlines for the predicted surge in visitors and business interests it is expected to attract. In addition,the expo center will not only house Chinese vendors,but will also feature a variety of sellers from around the world. In addition,the complex will house 722 villas where vendors can live,as well as plenty of warehouse space. In addition to a massive showroom center for Chinese products,Dragon Mart Cancun will also offer home appliances,communication equipment,lighting,household furnishings,jewelry,building materials,furniture,toys,machinery,medical equipment,auto parts,food and other general merchandise.
“It’s a big dream: A massive complex near the resort of Cancun that will be the largest trading center for Chinese products in the Western hemisphere,” writes The Miami Herald of the new Dragon Mart. “The proposed complex will house 3,040 showrooms,divided among 14 industrial sectors and targeting wholesalers from across Latin America. Projections estimate that it will draw one million people a year to a resort that is already the most popular beach destination in the Western Hemisphere.”
According to Forbes,Mexico is also proving to be “the China next door,” for American exporters,thanks to Mexico’s growing consumption of U.S. imports. In fact,the Office of the United States Trade Representative reported that trade between the U.S. and Mexico has grown by at least 377 percent since 1993.
“In 2012,Mexican based companies,including American multinationals there,imported $199.9 billion worth of goods and services as of the end of November,up from $198.3 billion in all of 2011,$163.4 billion in 2010 and $128.8 billion in 2009,” writes Forbes. “Ten years ago in 2002,Mexico only imported $97.4 billion from the U.S.”