Mexico stifling growth of manufacturing: Canacero
Oct 26, 2011 | 04:33 PM
| Stephen Downer
MEXICO CITY The head of Mexicos steel association claims the government isnt doing enough to stimulate manufacturing.
"Mexico has great potential, and manufacturing has tremendous possibilities as an engine of growth and generator of jobs," Raúl Gutiérrez Muguerza, president of Cámara Nacional de la Industria del Herrio y del Acero (Canacero), said at a business conference in Querétaro, central Mexico.
But in the past 10 years, the manufacturing sectors gross national product (GNP) has shrunk by 3 percentage points, 700,000 jobs have been lost and 15,000 manufacturing companies have closed, he said, noting that Mexicos trade deficit with China reached $41 billion in 2010, while opportunities to participate more in the U.S. marketwhere Mexico exports 80 percent of its merchandisehave been lost.....
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