19 Burst results for "Nuevo Leon"
Bloomberg Radio New York
"nuevo leon" Discussed on Bloomberg Radio New York
"It means that there's a lot of employment. It means that there's been a growth in certain industries and specialization of workers in those industries. long There's a history, for example, of car production or electronics. There are people who are trained to work in those businesses now who are finding themselves with more work opportunities. On the other hand, in some ways it hasn't been so advantageous for Mexico. The country has had about 2 % growth since NAFTA went into effect, annual growth. And that's not great for a country that expected to have this huge bonanza thanks to its trade agreement. Maya, why economists who say in part that the model became importing a ton to export so that the value added of goods in Mexico wasn't that great. Another part what's is the role of domestic business? Is it just foreign companies putting money in and foreign companies taking money out? Or do domestic companies have a role in that chain? And they do have a role, but there have been issues around allowing them to grow, whether it's that they have interest rates? Or whether that smaller companies face security issues like extortion? Or whether just a really high level of informality that it's hard for them to get out of in order for there to to be much higher levels of growth? And so there are those who are saying, well, yeah, nearshoring is a great opportunity for Mexico. But the export model has in some ways failed the broader population. Can the country turn things around? Or can the country and its trade partners turn things around? Which companies Companies are among the most prominent that have investments in Mexico. I think the really big are in some ways has been Tesla. It decided to build a very big factory that's not in place yet, but it's going to build in the state of Nuevo Leon. It has another huge factory in Texas. And so in some ways, these two factories have been like twin magnets that are pulling other suppliers to the state. The state economy minister told us that more than 30 companies have moved to the area because of the draw of those two factories. But we also see automakers that have long been in Mexico, like General Motors, like Kia, interested in moving into the EV industry and announcing really big amounts of money that they're going to put into either re -outfitting existing plants or building new plants so that they can get in on the EV boom. Aside from that, there's all kinds of smaller companies that we don't hear about that are part of the chain. They're those plastics providers or the electronic components providers, the makers of things like seat belts that are all going to be part of this. Maya, we're going to have to leave it there. Thanks so much for joining us. That's Maya Averbach, Mexico economy and government reporter at Bloomberg News joining us from Mexico City. It's today's big take. Check it out at Bloomberg also check out the Big Take podcast wherever you get your podcasts. See you next time. When you get your news from Bloomberg, you don't just get the story, you get the story behind the story. How your EVs battery may not be as green as it seems. Why a decrease in birth global rates could send countries scrambling to increase immigration. You get context and context Context changes how you see things. How you change things. Because context changes everything. Go to Bloomberg .com to get context. No one knows where this market will go. Right now. It feels like a wild ride. One thing's for certain, there's through a way it. And the experience and guidance of a Merrill advisor can help you get there. Because where there's a bull, there's a way Find an advisor at ml .com slash
Bloomberg Radio New York
"nuevo leon" Discussed on Bloomberg Radio New York
"DSA Iraqi that 100 expects start Friday, to cancellations screen 17 with with C operational .7 the issues million delaying flyers. about 40 on Today track alone, percent talks of with its FlightAware the flights. air reports The more Southwest The than union Airlines Pilots Association announced Thursday it filed a request with with the National Mediation Board. The union said it has become increasingly frustrated with Southwest's lack of commitment to negotiating. Southwest's Vice President of Labor Relations said in a statement the airline has been meeting regularly with the union and offered industry leading proposals related to station and scheduling. A group of Marina del Rey residents want to pull the plug on this year's Fourth of July fireworks show as more sick sea lions wash up on shore. Animal experts say toxic algae blooms along the Southern California shoreline is causing the deaths and illnesses of local sea mammals. Veterinarians are assessing the sick sea lions in a resting pen just yards away from a barge where fireworks are set to be launched on Tuesday. Residents are also concerned that large crowds watching the fireworks will be overwhelming for sea creatures. The Independence Day celebration is a long -standing in tradition the coastal city located just south of Venice Beach. New Yorkers are dealing with bugs swarms along of with smoke from Canadian wildfires. A New York City Health Department spokeswoman says the insects are actually aphids and are not considered to be a health risk. Experts say the bugs warm should only last for days a few to a week and the warm temperatures and high humidity are likely causing the pesky problem. I'm Julie Bryan. Nationwide, more than 120 ,000 veterans have died by suicide since 2001. A new coalition led by USAA is joining the fight. It's not getting better but it is a challenge that we can conquer. President Wayne Peacock says the face the fight coalition includes businesses, foundations and nonprofits that are veteran focused. The idea is to the break stigma of seeking help. An initial $41 million investment seeks to get more mental health counselors into communities. An Arizona truck driver was allegedly on TikTok when he caused a crash that killed five people. More from Brian Shook. Officials say in early January Danny Tyner was speeding a down highway near a suburb of Phoenix when he crashed into two cars. The cars were shoved between another semi truck and two other vehicles and burst into flames. Tyner is in custody at the Maricopa County Jail and is facing five manslaughter charges. I'm Brian Shook. At least 100 people have died in Mexico over the past three weeks as a heat wave pushed temperatures above 120 degrees in some parts of the country. Mark Mayfield has more. Mexico's Health Ministry said on Thursday that two -thirds of The the deaths happened deaths last week and the rest the week before. Nearly all the deaths were attributed to heat stroke and a handful from dehydration. More than 60 % of the people who died were in the northern state of Nuevo Leon which borders on Texas. Mark I'm Mayfield. A country music legend is now sending free books to children in Palm Beach County Florida. Joel Malkin reports. Dolly Imagination Parton's Library is up and running in Belle Glade, Lake Park and Pahokee. The program was launched back in 1995 through the non -profit Dollywood Foundation, in Parton's hometown in Tennessee. It's spread since with a tribute to her father. Children under five who live in the communities where the programs available can receive one free book in the mail each month. More than 200 million have been sent worldwide. More details imaginationlibrary .com. I'm Julie Ryan. And I'm Leslie Lotto in the Bloomberg Newsroom. Here are some of the stories we're watching since the Supreme Court has tossed President Biden's signature college loan forgiveness program. Some economists say when the monthly bills resume in two months, they expect to see student loan delinquencies return to pre -pandemic levels and householders go into further debt. Just about 11 % of borrowers were over 90 days past due in the fourth quarter of 2019, amounting to $167 billion in newly seriously delinquent balances. The stage is set for China's central bank to get a new leader. We hear more from Bloomberg's Denise Pellegrini. China has named Pang Gong Sheng as the central bank's new Communist Party chief. This puts him in line to be the next governor.
Bloomberg Radio New York
"nuevo leon" Discussed on Bloomberg Radio New York
"Well, casting business headlines 24 are coming hours up I'm a right day Alex now. at Steele. Bloomberg .com and Americans And I'm Paul the Sweeney. Bloomberg traveling by Business running air into Stay Act. with for a us. few the Today's fourth snags. of top July stories holiday and Jim global Forbes has the latest over 8100 flights have been canceled or delayed on Friday in the US. This comes as over 2 .8 million people are expected to pass through TSA gates this weekend. Denver International Airport has been hit the hardest as almost half of all flights in and out of the airport have been delayed. United Airlines has run into issues as well with over 40 % of all flights delayed. The Supreme Court issued a pair of big decisions on Friday in a six three ruling justices struck down President Biden's student loan forgiveness program. It also ruled in favor of a Christian web designer who refuses to create websites for same sex couples. The rulings drew quick reaction on Capitol Hill. Senate Democratic Leader Chuck Schumer said it shows the callousness of the MAGA Republican controlled Supreme Court. Republicans like House Speaker Kevin McCarthy applauded the decisions. Lawyers for Republican Congressman George Santos are going through a mountain of evidence against their client. Scott Pringle reports. The judge is giving George Santos's defense team the whole summer to review what prosecutors say is more than 80 ,000 pages of evidence against Santos. This was the Republicans first court appearance since pleading not guilty to charges of wire fraud, money laundering and making false statements. Prosecutors allege Santos misused campaign funds and fraudulently COVID received -19 unemployment benefits and also lied about his finances. Santos is due back in court September 7th. Hollywood actors are averting a strike for now by extending contract talks SAG -AFTRA and alliance the of motion picture and television producers agreed Friday to extend talks on a new contract to July 12th. The current contract was set to expire last night which would have likely meant a second Major player in Hollywood striking against the studios. I'm Julie Ryan. Nationwide more than 120 ,000 veterans have died by suicide since 2001. new coalition A led by USAA is joining the fight. It's not getting better but it is a challenge that we can conquer. President Wayne Peacock says the face the fight coalition includes businesses, foundations and nonprofits that are veteran focused. The idea is to break the stigma of seeking help. An initial 41 million dollar investment seeks to get more mental health counselors into communities. An Arizona truck driver was allegedly on TikTok when he caused a crash that killed five people. More from Brian Shook. Officials say in early January Danny Tyner was speeding down a highway near a suburb Phoenix of when he crashed into two cars. The cars were shoved between another semi -truck and two vehicles other and burst into flames. Tyner is in custody at the Maricopa County Jail and is facing five charges. manslaughter I'm Brian Shook. At least 100 people have died in Mexico over the three past weeks as a heat wave pushed temperatures above 120 degrees in some parts of the country. Mark Mayfield has more. Mexico's Health Ministry said on Thursday that two -thirds of the deaths happened last week and rest the the week before. Nearly all the deaths were attributed to heat stroke and a handful from dehydration. More than 60 of % the people who died were in the northern state of Nuevo Leon which borders on Texas. I'm Mark Mayfield. A country music legend is now sending free books to children in Palm Beach County Florida. Joel Malkin reports. Dolly Imagination Parton's Library is up and running in Belle Glade, Lake Park and Pahokee. was The program launched back in 1995 through the non -profit Dollywood Foundation. In Parton's hometown in Tennessee, it's spread since with a tribute to her father. Children under five who live in the communities where the programs available can receive one free the mail book in each month. More than 200 million have been sent worldwide. More details at imaginationlibrary I'm Julie Ryan. And I'm Denise Pellegrini in the Bloomberg Newsroom. U .S. biggest boosting banks their dividends. At least some of them. J .P. Morgan Chase, Wells Fargo, Morgan Stanley and Goldman Sachs leading U .S. banks in announcing higher dividends. That's after every lender subject to this year's Federal Reserve stress test passed the exam. Apple meantime has made Wall Street history as the first company with a market value of over $3 trillion at the close. That's after gaining 2 .3 % yesterday. Tom Forte, senior research analyst at D .A. Davidson, says it won't be easy for Apple to get a massive share gain from here up to a $4 trillion valuation anytime soon. You good know, the news is that the iPhone keeps on chugging along and that's still the most important product right now. It generates the largest percentage of sales
Northwest Newsradio
"nuevo leon" Discussed on Northwest Newsradio
"And shorter seasons meaning less money when you're making less money now than you were 15 years ago. Well that can't be right. Comedian Jay Leno hoping for a deal but supports actors joining the writers in strike. It would probably move things along. Both groups striking at the same time. That hasn't happened in six decades with no writers no actors that could have a seismic impact on us and what all of us watch. Tens of millions of Americans are hitting the roads and the skies this holiday travel weekend. ABC's Trevor Ault is at the Newark International Airport in New Jersey. The fourth of July travel rush already off and running for millions of Americans. TSA estimating nearly 18 million this holiday weekend. I got up extra early so that just so there's any issues with TSA. And even more Americans are hitting the road. We had to get off 81 and go on some crazy kind of loop -de -loop to get through this stop -and -go traffic. Experts say drivers will want to take off tomorrow before noon with most the congestion around 1pm. At least a hundred people have died in Mexico over the past three weeks as the heat wave pushed temps above 120 degrees. Mexico's Health Ministry says two thirds of the deaths happened last week and the rest the week before. Nearly all were attributed to heat stroke and handful a from dehydration. More than 60 % of the people who died were in the northern state of Nuevo Leon which borders Texas. Nationwide more than 120 ,000 U .S. veterans have died by suicide since 2001. A new coalition led by USAA is joining the fight. It is a challenge that we can conquer. President Wayne Peacock says the face the fight coalition includes businesses, foundations and nonprofits. All are veteran focused. The idea is to break the stigma of seeking help. An initial 41 million dollar investment is aimed at getting more mental health counselors into communities. Health updates Sarah Lee Kessler, NBC News Radio. Make any speaker smarter with trusted information from Northwest News Radio online on smart your speaker on the Northwest News Radio app. The news you need from the people you trust. Northwest News Radio AM 1000 FM 977 your information station. The Mariners are more than a baseball team. We're big, happy, noisy family. The Mariners win it here at T -Mobile A tight knit family of players and fans that wear our names on our backs in our hearts our on sleeves. A family that spells Julio
AP News Radio
3 women missing in Mexico after crossing from Texas on trip
"Three Texas women have been reported missing in Mexico and their families are asking for answers. There are two sisters, maritza and Marina Perez Rios, and their friend Dora cervantes seance. Last heard from February 24th. After they traveled about three hours from the McAllen Texas area to a flea market in nuevo Leon state, Mexico. They were heading there to sell clothing and the husband of one woman became concerned when they lost phone contact and he reported them missing. Authorities say they're investigating and the FBI has been notified, but this case stands in stark contrast to the response to the abduction of four Americans on a road trip for plastic surgery, which ended this week with two deaths. I'm Jackie Quinn
The Dinesh D'Souza Podcast
"nuevo leon" Discussed on The Dinesh D'Souza Podcast
"That's friend of dinesh dot com. I talked a couple of days ago about this very disturbing incident involving the cartels, Mexico, and the murder in Matamoros or in the modern Morris area of a couple of Americans and wounding of a third. So these are four African Americans who went down to Mexico in an American vehicle with American license plates, apparently one of them was getting some surgery, a tummy tucked something like that. And there was somehow cornered and kidnapped and chased. And then two of them killed by the cartels. And this raises all kinds of questions. It raises the questions about the border. It raises questions about the cartels. It raises questions about the security of Americans going to Mexico, which a lot of Americans do. Sometimes for casual purposes, if they live near the border, they go over to eat, and they come back, or they go on vacation or they go to get dental work done and all kinds of things. We know a guy who goes to get his dental worked out in Mexico because it's a lot cheaper. And Debbie's all over this topic and knows a lot about it. And the thing that you were telling me really struck me is that although we should talk about the latest incident, there's a kind of context. There's a background to it, and you've been tracking this stuff for at least a decade. For a long time. So back in 2010, it was actually September of 2010, a man by the name of David Hartley was skiing was jet skiing with his wife, and they were, they were jet skiing on this Lake that basically separates the United States from a merit from Mexico. And it's called falcon Lake, and they were just having a good time. I think they were taking photographs of this old church that's kind of sunk in a little bit on the side of the Mexican side. And all of a sudden, these two boats come after them, like speeding boats come after them, and when they saw that this was happening, they took off, right? And asked the chase began, they shot him in the head twice. He fell into the water so his wife knew he was dead. But she was trying to recover the body because she wanted to take what wanted to take him with her. And she couldn't do it because they were coming after her. So, you know, again, this is, this was something that was, it made headlines. It was during Obama, and I was like, yeah, look, you know, Obama's president, what's he going to do? Nothing. You know, that was my attitude. But what's really interesting is that there was a war going on between two cartels in South Texas, Los Zetas and the gulf cartels, which apparently still happening today, and that is why these four people were kidnapped. Those two cartels fighting again. Here we are what, 2013 years later, right? So the war between losa doesn't golf cartels, began in January 2010. And it's engulfed the entire tamaulipas border region. That's where Matamoros is. And also gone into nuevo Leon Vera Cruz, il dalga, all on the border of South Texas, okay? After years of working together, each group possesses intimate knowledge of the other's operations. So this is a very sophisticated sophisticated cartels, right? But interestingly, in this case, this guy was, he worked for a U.S. oil and gas company with operations in reynosa.
WCPT 820
"nuevo leon" Discussed on WCPT 820
"With my life. The Biden administration says 26 million people have applied to have up to $20,000 in federal student loans forgiven under the plan. Russian president Vladimir Putin says after a series of drone attacks, he wants tighter controls on the border with Ukraine. Regional officials in southern and western Russia have identified a string of drone attacks near the border with Ukraine and deep inside the country that resulted they say in no casualties at the same time the hacking of Russian media as well as the temporary closure of St. Petersburg airport has fed suspicion that Keith could be behind the disruption of flurry of drone attacks on Monday night and Tuesday morning targeted regions inside Russia along the border with Ukraine and deeper into the country with one crashing just 60 miles from Moscow according to local Russian authorities. I'm Charles De Ledesma police in Britain launched a major search for two month old baby after officers arrested the infant's mother and her boyfriend who had been missing since last month. Keith Moses is now facing three first degree murder charges related to a shooting in Florida that killed a television news reporter a 9 year old girl and a woman. This is AP news. Mexico's president says Tesla has committed to building a plant in northern Mexico. President Andres Manuel Lopez Obrador said the promise came in phone calls. He had Friday and Monday with Tesla head Elon Musk. It would be Tesla's third plant outside the U.S. after Shanghai and one near Berlin. Lopez Obrador had previously ruled out such a plant in the arid northern state of nuevo Leon because he didn't want water hungry factories in a region that suffers water shortages, but he said Musk's company had offered commitments to address those concerns, including using recycled water. Tesla is expected to announce more details Wednesday along with plans for its gen three vehicle platform at its annual investor day. I'm Julie Walker. Nissan is recalling more than 800,000 small SUVs in the U.S. and Canada because a key problem can cause the ignition to shut off while they're being driven. Nissan says it's not aware of any crashes or injuries caused by the problem. I'm Ed Donahue, AP news. This is a 20 a.m. W CPT willow springs and streaming worldwide. 8 20 dot com. We are Chicago's progressive chalk, where facts matter. Now, UW CPT 8 20, weather updates. From the weather ology, weather center, I'm meteorologist Paul from. Partly cloudy, this afternoon. With daytime highs approaching 48. Northeast winds, around 5 mph. Overcast skies tonight, scattered rain showers likely low level off round 38, mainly cloudy skies tomorrow. High of 40, Thursday, under cloudy skies, 35 Friday, mixed precipitation possible at times. A destiny of snow, Thursday night. That's your latest Chicago weather update. Right now, 43. Jonas posito live
AP News Radio
Mexican president says Tesla to build plant in Mexico
"Mexico's president says Tesla has committed to building a plant in the industrial hub of Monterey in northern Mexico. President Andres Manuel Lopez Obrador said the promise came in phone calls he had Friday and Monday with Tesla head Elon Musk. It would be Tesla's third plant outside the U.S. after Shanghai and one near Berlin, Lopez Obrador had previously ruled out such a plant in the arid northern state of nuevo Leon because he didn't want water hungry factories in a region that suffers water shortages, but he said Musk's company had offered commitments to address those concerns, including using recycled water. Tesla is expected to announce more details Wednesday along with plans for its gen three vehicle platform at
Bloomberg Radio New York
"nuevo leon" Discussed on Bloomberg Radio New York
"Other hand, you have full staff at Starbucks and Duncan, where you can also buy mugs and sandwiches. Coffee is a huge market 65% of the country to coffee twice a day. Our customers are generally people who live and work close to our location. So there's no one brand we're taking from. The market's very big and there's space for everyone in the market. The other important aspect consistency, making sure the customers cup of coffee tastes exactly the same every day, and most do Bloomberg radio. And I'm Susanna Palmer in the Bloomberg newsroom. Democratic congressman Henry cuellar of Texas is worried about a complete loss of control at the border. Appearing on CBS's face the nation, cuellar said he fears there will be a huge influx of migrants at the border after title 42, the immigration policy used to turn away migrants during the COVID pandemic is lifted this week. Cuellar says President Biden needs to implement an orderly policy for asylum seekers at the border, and he has a suggestion. I think what we need to do is have a pathway where they go through the bridges and the early way. And then they don't follow that pathway. I think we need to send them back and say, follow away. Cuellar believes President Biden's 6 pillar plan for the situation won't fix the problem. Twitter today announced it will ban accounts that post links or usernames for certain prohibited third party social media platforms. Twitter said an opposed to that we will no longer allow free promotion of certain social media platforms on Twitter. Specifically, we will remove accounts created solely for the purpose of promoting other social platforms and content that contains links or usernames for the following platforms, Facebook, Instagram, Mastodon, truth, social, tribal, nausea, and post. This could be the week we hear about Tesla's plans for expansion. We're hearing Tesla is finalizing plans to build an electric vehicle assembly plant in an industrial area of northeastern Mexico and may announce the factory as early as this week. Our source says the plant is to be located in Santa catarina in Monterey city, the capital of nuevo Leon state. Final details are still being worked out, Tesla didn't immediately respond to an emailed request for comment. A representative for FTX cofounder Sam bankman fried won't comment on news he plans to drop his fight against extradition to the U.S. to face a range of criminal charges. Bankman fried has been locked up in The Bahamas since Monday when he was arrested at the request of American authorities. He faces another appearance in court this week. Investors will be looking for earnings from Nike and data on housing in the week ahead. Bloomberg's Karen Moscow has more. Nike earnings are out on Tuesday and will be scrutinized for commentary on China and the health of the consumer amid high inflation, as well as early indications of holiday demand. That's the same day we get a report on housing starts. Wednesday, we're watching for our report on U.S. existing home sales as well as consumer confidence. Thursday, we get another look at third quarter GDP, as well as the weekly report on initial jobless claims, and Friday its new home sales and durable goods orders. I'm Karen Moscow, Bloomberg radio. Now that the World Cup has ended with Argentina victorious, here's what energy rich Qatar, with a population of about 3 million spent on it, an estimated $300 billion, and that is well above previous spending records for the event. Global news 24 hours a day on air and on Bloomberg quicktake powered by more than 2700 journalists and analysts in more than 120 countries. I'm Susanna Palmer. This is Bloomberg. On the latest edition of the Bloomberg businessweek podcast, a conversation with Marianne bartels, chief investment strategist at sanctuary wealth. Marian, how are you? I'm terrific. Thank you for having me today. Are you terrific? Today's it's been quite the week when it comes to the equity market. I like the perspective, but how are you feeling? I'm actually feeling pretty good. Why? I have because I have a little bit more of an optimistic outlook for 2023. Now, we still have some bumps in the road. We're going to have some volatility. But I think if we were to have this conversation, this time next year, I think everybody is going to be a little happier in their portfolio. Okay, well, give us a prediction about how much happier they'll be. A lot. Okay, wow. Like 20% happier? Well, we think the bull is already running. And it's not getting a lot of conversation. And that's in the equity market. And it could already be running in the bond market as well. So what do I mean by that? One of the things that I learned early in my career is when you're in the bear market, the bull starts running, it starts showing its colors and you're seeing that in the energy sector, you're seeing that in the industrial sector, the materials sector, and parts of the healthcare sector. We have stocks in those sectors that are trading at or near record all time highs. And we keep talking about a bear market. Well, there are pockets that are not in a bear market. One of the big events that you're going to be looking to next week and through to the end of the year. Everybody's going to keep watching data and anything that's sensitive to prices. We are seeing manufacturing cool off housing cool op. The consumers really been holding everything together, wages have been going up. So I think anything to do any data points with
Bloomberg Radio New York
"nuevo leon" Discussed on Bloomberg Radio New York
"Weather was also felt in states like Maine, New Hampshire and Vermont, more than 5 million people were under winter weather alerts to begin the weekend. The storm also left more than 175,000 homes and businesses without power in multiple states. Hanukkah, the Jewish festival of lights begins on Sunday at sundown in his celebrated for 8 days, the holiday is celebrated by Jewish people worldwide and dates back to the second century BCE when a small band of Jews reclaimed their holy temple in Jerusalem. A candle is lit on a menorah each night to mark the celebration, the world's tallest electric menorah will be on display in downtown Miami starting tonight in celebration of Hanukkah, a Providence woman is giving away hundreds of Christmas toys in honor of her late husband who died in combat, Valerie giblin held a Christmas toy giveaway in Hartford park on Saturday, where she gave away around 600 toys to the neighborhood children. Giblin's toy drive was in honor of her husband, sergeant Timothy giblin, who was one of the 9 Rhode Island marines killed in the virus bombings of 1983. The television academy says the 2023 Emmy nominations will be announced July 12th. The 75th annual Emmy Awards ceremony are scheduled to be held in September and will air on Fox, the exact date has yet to be announced, the Emmy telecasts are rotated yearly among ABC NBC CBS and Fox. The awards show usually airs on Sundays except when NBC televises the event. The Emmys are held Mondays due to the peacock network's NFL Sunday Night football commitments. The Powerball jackpot continues to grow, lottery officials say no and picked all 6 numbers in last night's drawing. That means Monday night's jackpot in the multi state lottery game will be worth $158 million. Saturday's numbers were 33, 56, 64, 66, 68, and the Powerball number was 12, as for Tuesday's mega millions jackpot, that's worth $465 million. I'm Dina kodiak. And I'm Susanna Palmer in the Bloomberg newsroom. Democratic congressman Henry cuellar of Texas is worried about a complete loss of control at the border. Appearing on CBS's face the nation, cuellar said he fears there will be a huge influx of migrants at the border after title 42, the immigration policy used to turn away migrants during the COVID pandemic is lifted this week. Cuellar says President Biden needs to implement an orderly policy for asylum seekers at the border, and he has a suggestion. I think what we need to do is have a pathway where they go through the bridges and the early way. And then they don't follow that pathway. I think we need to send them back and say, follow away. Cuellar believes President Biden's 6 pillar plan for the situation won't fix the problem. Twitter today announced it will ban accounts that post links or usernames for certain prohibited third party social media platforms. Twitter said in a post that we will no longer allow free promotion of certain social media platforms on Twitter, specifically we will remove accounts created solely for the purpose of promoting other social platforms and content that contains links or usernames for the following platforms, Facebook, Instagram, Mastodon, truth, social, tribal, nausea, and post. This could be the week we hear about Tesla's plans for expansion. We're hearing Tesla is finalizing plans to build an electric vehicle assembly plant in an industrial area of northeastern Mexico and may announce the factory as early as this week. Our source says the plant is to be located in Santa catarina in Monterey city, the capital of nuevo Leon state. Final details are still being worked out, Tesla didn't immediately respond to an emailed request for comment. A representative for FTX cofounder Sam bankman fried won't comment on news he plans to drop his fight against extradition to the U.S. to face a range of criminal charges. Bankman fried has been locked up in The Bahamas since Monday when he was arrested at the request of American authorities. He faces another appearance in court this week. Investors will be looking for earnings from Nike and data on housing in the week ahead. Bloomberg's Karen Moscow has more. Nike earnings are out on Tuesday and will be scrutinized for commentary on China and the health of the consumer amid high inflation, as well as early indications of holiday demand. That's the same day we get a report on housing starts. Wednesday, we're watching for our report on U.S. existing home sales as well as consumer confidence. Thursday, we get another look at third quarter GDP, as well as the weekly report on initial jobless claims, and Friday its new home sales and durable goods orders. I'm Karen Moscow, Bloomberg radio. Now that the World Cup has ended with Argentina victorious, here's what energy rich Qatar, with a population of about 3 million spent on it, an estimated $300 billion, and that is well above previous spending records for the event. Global news 24 hours a day on air and on Bloomberg quicktake powered by more than 2700 journalists and analysts in more than 120 countries. I'm Susanna Palmer. This is Bloomberg
Bloomberg Radio New York
"nuevo leon" Discussed on Bloomberg Radio New York
"To love business week for, one that taps into the big themes of our time, but may not be on your radar, but definitely should be. It's about a prime spot between Mexico's industrial capital and the U.S. border that's become a haven for Chinese manufacturers looking to sidestep U.S. tariffs and shorten supply chains. The story was also a Bloomberg big take this week, Bloomberg, business week editor Joel Weber, is back with more, along with business week global economics editor Christina Lindblad. China became very interested in sort of a side door to the U.S. there. And so we have seen an explosion of factories there and it is effectively a workaround of Trump's tariff policy, which the Biden administration is basically kept in place. And so it's interesting about that is that, you know, you basically have gamed the system and so things going forward may not be manufactured in China as before. You find some cheap real estate in other countries. Mexico is not the only version of this, but certainly the closest to the U.S.. So how's this working out as a little bit of arbitrage Christina? Well, that's the globalization is always arbitrage, right? So I think when we interviewed companies that are based in one particular industrial park that we focused on, they mostly Chinese firms preferred to emphasize the proximity to the U.S. market and the savings on shipping, but when pressed, they admitted that, you know, for example, one furniture maker was facing tabs of 25% when they were shipping from China and now qualify for duty free shipments into the U.S.. What blew me away is how quickly they were able to do that, right? Like I always feel like when we're talking to CEOs and they're like, well, the shift, you know, if we have to shift our production elsewhere, it's going to take a long time. I mean, they move pretty quickly. And it reminds us that they are still the manufacturer to the world. Yes, and I think some of these companies are, I mean, they're not all big. I mean, one of the manufacturers is a really big manufacturer in China, but so they are nimble, and as a policy, China has been basically willing to shed kind of low margin manufacturing businesses as it focuses on high end stuff. New fuel vehicles and biotechnology and semiconductors. So I think the first wave went to places like Vietnam. But now you can see businesses are moving further away from those comfort locales where they first landed and yeah, I mean, I think what I thought of was kind of funny was that do you remember when Trump tweeted basically ordering American companies home? Yeah. And I said, well, Kemp floating across the Pacific or Chinese Chinese plants. Didn't exactly work that way. I don't know, it seems like there could be like a way for the U.S. to close this loophole. I mean, they know what these Chinese companies produce. And isn't there a way that they can say, okay, well, we know that it comes from a subsidiary of a Chinese company, and you're not sticking to the spirit of the rule. We're going to tack on that tariff. Do they want to? Oh, I don't know. That might cause issues with the USMCA, right? Like this successor to nafta. I mean, I think Mexico would have legitimate reason to say what are you doing, you know? As long as they meet the content requirements which they are, and to do that, I mean, we should be clear that this implies a certain amount of effort on the part of these Chinese companies because they're having to source products from Mexico could be even North America. They can't just import assemble everything from Chinese parts and ship it across. Yeah, the other thing to keep in mind here, you know, belt and road is a very top down initiative in China. This is not that. This is just grassroots grassroots effort by Chinese exporters to be like, how do we get around this? It's kind of simple, but it makes so much sense. Yeah. Also, I mean, we talked to some companies that off the record explicitly said, part of the reason we're doing this isn't just cost savings is that there's political risk. I mean, policy risk rather in China in recent years, we've seen crackdowns in tech and other sectors and so we talked about the Mexico side of this too. Amlo being obviously the president of Mexico has been very eager to try and get employment whenever there can be employment. How is this shaping out domestically for him? Well, the interesting thing is at the federal level, Mexico has never really actively courted Chinese investment because they see Chinese exporters as rivals in third markets, right? But the state at the state level states have. So nuevo Leon, which is where you know this particular industrial park and these are a lot of these companies are setting up shop. Has done and they're building a special road, for example, from the industrial park to the border. And so yeah, but I think that some people have said that Mexico might have actually seen even a bigger windfall of this kind of investment. If I'm low was being less nationalistic on topics like energy and things like that, but this is great for Mexico. The number that really jumped out at me here is near shoring could boost Mexico's exports by 35 billion a year, a bit over 7%. I mean, that's real. Yeah. Also, I mean, while the Chinese investment like the most recent figure is $500 million a year is not huge. There is, there are a couple of deals that could happen this year that would be transformative. That we're talking about $1 billion factories. One of them is there an EV engine maker that's looking at two different sites in Mexico. And those kinds of investments pull supply chains around them. So that kind of that kind of thing. I think we take it to the next level. Ready to tell the suppliers that play into it. Hey, you guys point out in the story though. Chinese companies aren't the first to seek shelter from U.S. towers. That's right. Japan did it, went back in the yeah, similar playbook when Reagan started layering all these different restrictions on Japanese cars. And then when nafta took effect, they saw, well, this is great export platform now. But I think it's interesting right in terms of the globalization conversations that we're having about what's going on. I forgot about that. We haven't talked about that forever. Well, by the way
Bloomberg Radio New York
"nuevo leon" Discussed on Bloomberg Radio New York
"This is Bloomberg business week with Carol masher and Bloomberg quick takes Tim Steven from Bloomberg radio. Well, this is one of those stories that we've come to love business week for, one that taps into the big themes of our time, but may not be on your radar, but definitely should be. It's about a prime spot between Mexico's industrial capital and the U.S. border that's become a haven for Chinese manufacturers looking to sidestep U.S. tariffs and shorten supply chains. The story was also a Bloomberg big take this week. Bloomberg businessweek editor Joel Weber is back with more, along with business week global economic editor Christina Lindblad. China became very interested in sort of a side door to the U.S. there. And so we have seen an explosion of factories there and it is effectively a workaround of Trump's tariff policy, which the Biden administration is basically kept in place. And so what's interesting about that is that, you know, you basically have gamed the system and so things going forward may not be manufactured in China as before. You find some cheap real estate in other countries. Mexico is not the only version of this, but certainly the closest to the U.S.. So how's this working out as a little bit of arbitrage Christina? Well, that's the globalization is always arbitrage, right? So I think when we interviewed companies that are based and one particular industrial park that we focused on, most of the Chinese firms preferred to emphasize the proximity to the U.S. market and the savings on shipping, but when pressed, they admitted that, you know, for example, one furniture maker was facing tabs of 25% when they were shipping from China and now qualify for duty free shipments into the U.S.. What blew me away is how quickly they were able to do that, right? Like I always feel like when we're talking to CEOs and they're like, well, the shift, you know, if we have to shift our production elsewhere, it's going to take a long time. I mean, they move pretty quickly. And it reminds us that they are still the manufacturer to the world. Yes, and I think some of these companies are pretty, I mean, they're not all big. I mean, one of the manufacturers is a really big manufacturer in China, but so they are nimble, and as a policy, China has been basically willing to shed kind of low margin manufacturing businesses as it focuses on high end stuff. New fuel vehicles and biotechnology and semiconductors. So I think the first wave went to places like Vietnam. But now you can see businesses are moving further away from those comfort locales where they first landed and. I think what I thought of was kind of funny was that do you remember when Trump tweeted basically ordering American companies home? Yeah. And I said, well, Kim floating across the Pacific or Chinese Chinese plants. Didn't exactly work that way. I don't know, it seems like there could be a way for the U.S. to close this loophole. I mean, they know what these Chinese companies produce. And isn't there a way that they can say, okay, well, we know that it comes from a subsidiary of a Chinese company, and you're not sticking to the spirit of the rule. We're going to tack on that tariff. Do they want to? Oh, I don't know. That might cause issues with a USMCA, right? Like the successor to nafta. I mean, I think Mexico would have legitimate reason to say what are you doing, you know? As long as they meet the content requirements which they are and to do that, I mean, we should be clear that this implies a certain amount of effort on the part of these Chinese companies because they're having to source products from Mexico could be even North America. They can't just import assemble everything from Chinese parks and ship it across. Yeah. Other thing to keep in mind here, you know, belt and road is a very top down initiative in China. This is not that. This is just grassroots grassroots effort by Chinese exporters to be like, how do we figure out this? It's kind of simple, but it makes so much sense. Yeah. Also, I mean, we talked to some companies that off the record explicitly said, part of the reason we're doing this isn't just cost savings is that there's political risk. I mean, policy risk rather in China in recent years, we've seen crackdowns in tech and other sectors and so, you know. We talked about the Mexico side of this too. Amlo being obviously the president of Mexico has been very eager to try and get employment whenever there can be employment. How is this shaping out domestically for him? Well, the interesting thing is at the federal level, Mexico has never really actively courted Chinese investment because they see Chinese exporters as rivals in third markets, right? But the state at the state level states have. So nuevo Leon, which is where you know this particular industrial park and these are a lot of these companies are setting up shop. Has done and they're building a special road. For example, from the industrial park to the border. And so yeah, but I think that some people have said that Mexico might have actually seen even a bigger windfall of this kind of investment if I'm low was being less nationalistic on topics like energy and things like that, but this is great for Mexico. The number that really jumped out at me here is near shoring could boost Mexico's exports by 35 billion a year, a bit over 7%. I mean, that's real. Yeah. Also, I mean, while the Chinese investment, the most recent figure is $500 million a year is not huge. There is, there are a couple of deals that could happen this year that would be transformative. We're talking about $1 billion factories. One of them is there an EV engine maker that's looking at two different sites in Mexico. And those kinds of investments pull supply chains around them. So that kind of that kind of thing. I think we take it to the next level. Right? It's all the suppliers that play into it. Hey, you guys point out in the story though. Chinese companies aren't the first to seek shelter from U.S. towers. That's right. Japan did it, went back in the yeah, similar playbook when Reagan started layering all these different restrictions on Japanese cars. And then when nafta took effect, they saw, well, this is great export platform now. But I think it's interesting, right? In terms of the globalization conversations that we're having about what's going on. I forgot about that. We haven't talked about that forever
Bloomberg Radio New York
"nuevo leon" Discussed on Bloomberg Radio New York
"That we've come to love business week for, one that taps into the big themes of our time, but may not be on your radar, but definitely should be. It's about a prime spot between Mexico's industrial capital and the U.S. border that's become a haven for Chinese manufacturers looking to sidestep U.S. tariffs and shorten supply chains. The story was also a Bloomberg big take this week. Bloomberg businessweek editor Joel Weber is back with more, along with business week global economics editor Christina Lindblad. China became very interested in sort of a side door to the U.S. there. And so we have seen an explosion of factories there and it is effectively a workaround of Trump's tariff policy, which the Biden administration is basically kept in place. And so it's interesting about that is that, you know, you basically have gamed the system and so things going forward may not be manufactured in China as before. You find some cheap real estate in other countries, Mexico is not the only version of this, but certainly the closest to the U.S.. So how's this working out as a little bit of arbitrage Christina? Well, that's the globalization is always arbitrage, right? So I think when we interviewed companies that are based in one particular industrial park that we focused on, most of the Chinese preferred to emphasize the proximity to the U.S. market and the savings on shipping, but when pressed, they admitted that, for example, one furniture maker was facing tabs of 25% when they were shipping from China and now qualify for duty free shipments into the U.S.. What blew me away is how quickly they were able to do that, right? Like I always feel like when we're talking to CEOs and they're like, well, the shift, you know, if we have to shift our production elsewhere, it's going to take a long time. I mean, they move pretty quickly. And it reminds us that they are still the manufacturer to the world. Yes, and I think some of these companies are, I mean, they're not all big. I mean, one of the manufacturers is a really big manufacturer in China, but so they are nimble. And as a policy, China has been basically willing to shed kind of low margin manufacturing businesses as it focuses on high end stuff. New fuel vehicles and biotechnology and semiconductors. So I think the first wave went to places like Vietnam. But now you can see businesses are moving further away from those comfort kind of locales where they first landed and. I think what I thought was kind of funny was that do you remember when Trump tweeted basically ordering American companies home? Yeah. And I said, what kept floating across like the best Chinese Chinese plants? Didn't exactly work that way. I don't know, it seems like there could be a way for the U.S. to close this loophole. I mean, they know what these Chinese companies produce. And isn't there a way that they can say, okay, well, we know that it comes from a subsidiary of a Chinese company, and you're not sticking to the spirit of the rule. We're going to tack on that tariff. Do they want to? Oh, I don't know. That might cause issues with the USMCA, right? Like the successor to nafta. I mean, I think Mexico would have legitimate reason to say what are you doing, you know? As long as they meet the content requirements which they are and to do that, I mean, we shouldn't be clear that this implies a certain amount of effort on the part of these Chinese companies because they're having to source products from Mexico could be even North America. They can't just import assemble everything from Chinese parts and ship it across. Yeah. The other thing to keep in mind here, you know, belt and road is a very top down initiative in China. This is not that. This is just grassroots grassroots effort by Chinese exporters to be like, how do we get around this? It's kind of simple, but it makes so much sense. Yeah. Also, I mean, we talked to some companies that off the record explicitly said, part of the reason we're doing this isn't just cost savings is that there's political risk. I mean, policy risk rather in China in recent years, we've seen crackdowns in tech and other sectors and so we talked about the Mexico side of this too. Amlo being obviously the president of Mexico has been very eager to try and get employment whenever there can be employment. How is this shaping out domestically for him? Well, the interesting thing is at the federal level, Mexico has never really actively courted Chinese investment because they see Chinese exporters as rivals in third markets, right? But the state at the state level states have. So nuevo Leon, which is where you know this particular industrial park and these are a lot of these companies are setting up shop. Has done and they're building a special road, for example, from the industrial park to the border. And so yeah, but I think that some people have said that Mexico might have actually seen even a bigger windfall of this kind of investment if I'm low was being less nationalistic on topics like energy and things like that, but this is great for Mexico. The number that really jumped out at me here is near shoring could boost Mexico's exports by 35 billion a year, a bit over 7%. I mean, that's like that's real. Yeah. Also, I mean, while the Chinese investment the most recent figure is $500 million a year is not huge. There is there are a couple of deals that could happen this year that would be transformative. That we're talking about $1 billion factories. One of them is there an EV engine maker that's looking at two different sites in Mexico. And those kinds of investments pull supply chains, you know, around them. So that kind of that kind of thing, I think would take it to the next level. Right? It's all the suppliers that play into it. Hey, you guys point out in the story though. Chinese companies aren't the first to seek shelter from U.S. towers. That's right. Japan did it, went back in the similar playbook when Reagan started layering all these different restrictions on Japanese cars. And then when nafta took effect, they saw, well, this is great export platform now. But I think it's interesting right in terms of the globalization conversations that we're having about what's going on. I forgot about that. We haven't talked about that forever. The way I think about
Bloomberg Radio New York
"nuevo leon" Discussed on Bloomberg Radio New York
"Stories that we've come to love business week for, one that taps into the big themes of our time, but may not be on your radar, but definitely should be. It's about a prime spot between Mexico's industrial capital and the U.S. border that's become a haven for Chinese manufacturers looking to sidestep U.S. tariffs and shorten supply chains. The story was also a Bloomberg big take this week, Bloomberg, business week editor Joel Weber, is back with more, along with business week, global economics editor Christina Lindblad. China became very interested in sort of a side door to the U.S. there. And so we have seen an explosion of factories there and it is effectively a workaround of Trump's tariff policy, which the Biden administration is basically kept in place. And so it's interesting about that is that, you know, you basically have gamed the system and so things going forward may not be manufactured in China as before. You find some cheap real estate in other countries, Mexico is not the only version of this, but certainly the closest to the U.S.. So how's this working out as a little bit of arbitrage Christina? Well, that's the globalization is always arbitrage, right? So I think when we interviewed companies that are based in one particular industrial park that we focused on, most of the Chinese preferred to emphasize the proximity to the U.S. market and the savings on shipping, but when pressed, they admitted that, for example, one furniture maker was facing tabs of 25% when they were shipping from China and now qualify for duty free shipments into the U.S.. What blew me away is how quickly they were able to do that, right? Like I always feel like when we're talking to CEOs and they're like, well, the shift, you know, if we have to shift our production elsewhere, it's going to take a long time. I mean, they move pretty quickly. And it reminds us that they are still the manufacturer to the world. Yes, and I think some of these companies are not all big. I mean, one of the manufacturers is a really big manufacturer in China, but so they are nimble, and as a policy, China has been basically willing to shed kind of low margin manufacturing businesses as it focuses on high end stuff. New fuel vehicles and biotechnology and semiconductors. So I think the first wave went to places like Vietnam. But now you can see businesses are moving further away from those comfort kind of locales where they first landed and yeah, I mean, I think what I thought was kind of funny was that do you remember when Trump tweeted basically ordering American companies home? Yeah. And I said, well, Kim floating across like the best Chinese Chinese plants. Didn't exactly work that way. I don't know, it seems like there could be like a way for the U.S. to close this loophole. I mean, they know what these Chinese companies produce. And isn't there a way that they can say, okay, well, we know that it comes from a subsidiary of a Chinese company, and you're not sticking to the spirit of the rule. We're going to tack on that tariff. Do they want to? Oh, I don't know. That might cause issues with the USMCA, right? Like the successor to nafta. I mean, I think Mexico would have legitimate reason to say what are you doing, you know? As long as they meet the content requirements which they are and to do that, I mean, we should be clear that this implies a certain amount of effort on the part of these Chinese companies because they're having to source products from Mexico could be even North America. They can't just import assemble everything from Chinese parts and ship it across. Yeah. The other thing to keep in mind here, you know, belt and road is a very top down initiative. And then China. This is not that. This is just grassroots grassroots effort by Chinese exporters to be like, how do we get around this? It's kind of simple, but it makes so much sense. Yeah. Also, I mean, we talked to some companies that off the record explicitly said, part of the reason we're doing this isn't just cost savings is that there's political risk. I mean, policy risk rather in China in recent years, we've seen crackdowns in tech and other sectors and so we talked about the Mexico side of this too. Amlo being obviously the president of Mexico has been very eager to try and get employment whenever there can be employment. How is this shaping out domestically for him? Well, the interesting thing is at the federal level, Mexico has never really actively courted Chinese investment because they see Chinese exporters as rivals in third markets, right? But the state at the state level states have. So nuevo Leon, which is where this particular industrial park and these are a lot of these companies are setting up shop. Has done and they're building a special road, for example, from the industrial park to the border. And so yeah, but I think that some people have said that Mexico might have actually seen even a bigger windfall of this kind of investment if I'm low was being less nationalistic on topics like energy and things like that, but this is great for Mexico. The number that really jumped out at me here is near shoring could boost Mexico's exports by 35 billion a year, a bit over 7%. I mean, that's real. Yeah. Also, I mean, while the Chinese investment the most recent figure is $500 million a year is not huge. There is there are a couple of deals that could happen this year that would be transformative. That we're talking about $1 billion factories. One of them is there an EV engine maker that's looking at two different sites in Mexico. And those kinds of investments pull supply chains, you know, around them. So that kind of that kind of thing, I think would take it to the next level. Right, it's all the suppliers that play into it. Hey, you guys point out in the story though. Chinese companies aren't the first to seek shelter from U.S. towers. That's right. Japan did it, went back in the similar playbook when Reagan started layering all these different restrictions on Japanese cars. And then when nafta took effect, they saw, well, this is great export platform now. But I think it's interesting right in terms of the globalization conversations that we're having about what's going on. I forgot about that. We haven't talked about that forever. The way I think about
Bloomberg Radio New York
"nuevo leon" Discussed on Bloomberg Radio New York
"Is Bloomberg business week with Carol masher and Bloomberg quick takes Tim Steven from Bloomberg radio. Well, this is one of those stories that we've come to love business week for, one that taps into the big themes of our time, but may not be on your radar, but definitely should be. It's about a prime spot between Mexico's industrial capital and the U.S. border that's become a haven for Chinese manufacturers looking to sidestep U.S. tariffs and shorten supply chains. The story was also a Bloomberg big take this week. Bloomberg businessweek editor Joel Weber is back with more, along with business week global economic editor Christina Lindblad. China became very interested in sort of a side door to the U.S. there. And so we have seen an explosion of factories there and it is effectively a workaround of Trump's tariff policy, which the Biden administration is basically kept in place. And so it's interesting about that is that, you know, you basically have gamed the system and so things going forward may not be manufactured in China as before. You find some cheap real estate in other countries, Mexico is not the only version of this, but certainly the closest to the U.S.. So how is this working out as a little bit of arbitrage Christina? Well, that's the globalization is always arbitrage, right? So I think when we interviewed companies that are based in one particular industrial park that we focused on, most of the Chinese firms preferred to emphasize the proximity to the U.S. market and the savings on shipping, but when pressed, they admitted that, you know, for example, one furniture maker was facing tabs of 25% when they were shipping from China and now qualify for duty free shipments into the U.S.. What blew me away is how quickly they were able to do that, right? Like I always feel like when we're talking to CEOs and they're like, well, the shift, you know, if we have to shift our production elsewhere, it's going to take a long time. I mean, they move pretty quickly. And it reminds us that they are still the manufacturer to the world. Yes, and I think some of these companies are pretty, I mean, they're not all big. I mean, one of the manufacturers is a really big manufacturer in China, but so they are nimble, and as a policy, China has been basically willing to shed kind of low margin manufacturing businesses as it focuses on high end stuff. New fuel vehicles and biotechnology and semiconductors. So I think the first wave went to places like Vietnam. But now you can see businesses are moving further away from those comfort kind of locales where they first landed and. I think what I thought was kind of funny was that do you remember when Trump tweeted basically ordering American companies home? Yeah. And I said, well, Kim floating across the Pacific or Chinese Chinese plants. Didn't exactly work that way. I don't know, it seems like there could be a way for the U.S. to close this loophole. I mean, they know what these Chinese companies produce. And isn't there a way that they can say, okay, well, we know that it comes from a subsidiary of a Chinese company, and you're not sticking to the spirit of the rule. We're going to tack on that tariff. Do they want to? Oh, I don't know. That might cause issues with a USMCA, right? Like the successor to nafta. I mean, I think Mexico would have legitimate reason to say what are you doing, you know? As long as they meet the content requirements which they are and to do that, I mean, we shouldn't be clear that this implies a certain amount of effort on the part of these Chinese companies because they're having to source products from Mexico could be even North America. They can't just import assemble everything from Chinese parts and ship it across. Yeah. Other thing to keep in mind here, you know, belt and road is a very top down initiative in China. This is not that. This is just grassroots grassroots effort by Chinese exporters to be like, how do we get around this? It's kind of simple, but it makes so much sense. Yeah. Also, I mean, we talked to some companies that off the record explicitly said, part of the reason we're doing this isn't just cost savings is that there's political risk. I mean, policy risk rather in China in recent years, we've seen like crackdowns in tech and other sectors and so we talked about the Mexico side of this too. Amlo being obviously the president of Mexico has been very eager to try and get employment whenever there can be employment. How is this shaping out domestically for him? Well, the interesting thing is at the federal level, Mexico has never really actively courted Chinese investment because they see Chinese exporters as rivals in third markets, right? But the state at the state level states have. So nuevo Leon, which is where you know this particular industrial park and these are a lot of these companies are setting up shop. Has done and they're building a special road. For example, from the industrial park to the border. And so yeah, but I think that some people have said that Mexico might have actually seen even a bigger windfall of this kind of investment if I'm low was being less nationalistic on topics like energy and things like that, but this is great for Mexico, right? Yeah. The number that really jumped out at me here is near shoring could boost Mexico's exports by 35 billion a year, a bit over 7%. I mean, that's like that's real. Yeah. Also, I mean, while the Chinese investment, the most recent figure is $500 million a year is not huge. There is, there are a couple of deals that could happen this year that would be transformative. That we're talking about $1 billion factories. One of them is there an EV engine maker that's looking at two different sites in Mexico. And those kinds of investments pull supply chains, you know, around them. So that kind of that kind of thing. I think we take it to the next level. Right, it's all the suppliers that play into it. Hey, you guys point out in the story though. Chinese companies aren't the first to seek shelter from U.S. towers. That's right. Japan did it, went back in the yeah, similar playbook when Reagan started layering all these different restrictions on Japanese cars. And then when nafta took effect, they saw, well, this is great export platform now. But I think it's interesting right in terms of the globalization conversations that we're having about what's going on. Yeah, I forgot about that. We haven't talked about that forever. Well, I mean, the way I think about it is globalism
Bloomberg Radio New York
"nuevo leon" Discussed on Bloomberg Radio New York
"Thank you so much. So this is one of those stories that we have come to love business week for. It's one that taps into some of the big themes of our time, but may not be on your radar, but should. And Tim is about a prime spot between Mexico's industrial capital and the U.S. border that's become a haven for Chinese manufacturers. Yes, in Monterey, Mexico. If you look at a map, it's just south of the border with Texas. It's an area of the country that is really changed a lot in just a few years. Writing about it in a Bloomberg businessweek magazine, it's the issue is actually this story is going to be featured in the upcoming issue of business week magazine. Read it now though on the Bloomberg and at Bloomberg dot com slash business week. The editor of this piece is Christina Lynn blad, she's global economics editor. She's with us in the Bloomberg interactive broker studio. Also here is Joel Weber, the editor of Bloomberg business week. You can follow him on Twitter at Joel Weber's show. So this area of Mexico, northern Mexico, just south of the border with Texas. What did it look like a few years ago, Joel? Well, it was a little quieter than it is now with fewer factories and lo and behold China became very interested in sort of a side door to the U.S. there. And so we have seen an explosion of factories there and it is effectively a workaround of Trump's tariff policy, which the Biden administration is basically kept in place. And so it's interesting about that is that, you know, you basically have gamed the system and so things going forward may not be manufactured in China as before. You find some cheap real estate in other countries. Mexico is not the only version of this, but certainly the closest to the U.S.. So how's this working out as a little bit of arbitrage Christina? Well, that's the globalization is always arbitrage, right? So I think when we interviewed companies that are based in one particular industrial park that we focused on, they also Chinese firms preferred to emphasize the proximity to the U.S. market and the savings on shipping, but when pressed, they admitted that, for example, one furniture maker was facing tabs of 25% when they were shipping from China and now qualify for duty free shipments into the U.S.. What blew me away is how quickly they were able to do that, right? Like I always feel like when we're talking to CEOs and they're like, well, the shift, you know, if we have to shift our production elsewhere, it's going to take a long time. I mean, they move pretty quickly. And it reminds us that they are still the manufacturer to the world. Yes, and I think some of these companies are pretty, I mean, they're not all big. I mean, one of the manufacturers is a really big manufacturer in China, but so they are nimble, and as a policy, China has been basically willing to shed kind of low margin manufacturing businesses as it focuses on high end stuff. New fuel vehicles and biotechnology and semiconductors. So I think the first wave went to places like Vietnam. But now you can see businesses are moving further away from those comfort locales where they first landed and yeah, I mean, I think what I thought was kind of funny was that do you remember when Trump tweeted basically ordering American companies home? And I said, well, Kim floating across the Pacific or Chinese Chinese plants. Didn't exactly work that way. I don't know, it seems like there could be like a way for the U.S. to close this loophole. I mean, they know what these Chinese companies produce. And isn't there a way that they can say, okay, well, we know that it comes from a subsidiary of a Chinese company, and you're not sticking to the spirit of the rule. We're going to tack on that tariff. Do they want to? Oh, I don't know That might cause issues with the USMCA, right? Like the successor to nafta. I mean, I think Mexico would have legitimate reason to say what are you doing, you know? As long as they meet the content requirements, which they are, and to do that, I mean, we should be clear that this implies a certain amount of effort on the part of these Chinese companies because they're having to source products from Mexico could be even North America. They can't just import assemble everything from Chinese parks and ship it across. Yeah, the other thing to keep in mind here, you know, belt and road is a very top down initiative. And then China. This is not that. This is just grassroots grassroots effort by Chinese exporters to be like, how do we get around this? It's kind of simple, but it makes so much sense. Yeah. Also, I mean, we talked to some companies that off the record explicitly said, part of the reason we're doing this isn't just cost savings is that there's political risk. I mean, policy risk rather in China in recent years, we've seen crackdowns in tech and other sectors and so, you know. We talked about the Mexico side of this too. Amlo being obviously the president of Mexico has been very eager to try and get employment whatever there can be employment. How is this shaping out domestically for him? Well, the interesting thing is at the federal level, Mexico has never really actively courted Chinese investment because they see Chinese exporters as rivals in third markets, right? But the state at the state level states have. So nuevo Leon, which is where you know this particular industrial park and these a lot of these companies are setting up shop. Has done and they're building a special road, for example, from the industrial park to the border. And so yeah, but I think that some people have said that Mexico might have actually seen even a bigger windfall of this kind of investment. If I'm low was being less nationalistic on topics like energy and things like that, but this is great for Mexico. The number that really jumped out at me here is near shoring could boost Mexico's exports by 35 billion a year, a bit over 7%. I mean, that's real. Yeah. Also, I mean, while the Chinese investment like the most recent figure is $500 million a year is not huge. There is there are a couple of deals that could happen this year that would be transformative. That we're talking about $1 billion factories. One of them is there an EV engine maker that's looking at two different sites in Mexico. And those kinds of investments pull supply chains, you know, around them. So that kind of that kind of thing. I think it would take it to the next level. Right, it's all the suppliers that play into it. Hey, you guys point out in the story though. Chinese companies aren't the first to seek shelter from U.S. towers. That's right. Japan did it, went back in the similar playbook when Reagan started layering all these different restrictions on Japanese cars. And then when nafta took effect, they saw, well, this is great export platform now. But I think it's interesting, right? In terms of the globalization conversations that we're having about what's going on. I forgot about that. We haven't talked about that forever. Well, the way I think
Game of Crimes
"nuevo leon" Discussed on Game of Crimes
"Yeah, and the way our system set up, man, it's easy for them to get away with that. So nuevo Leon nuevo Laredo was like a huge source for what I deal with. Most of the time, it's coming from that portion of Mexico. They arrested that one trevino Chavez, not long ago, and they've been some fighting over there for territory. So I guess what I'm getting at is, man, it could vary, it could be 5 or 6 dope seizures a month and maybe two or three money seizures. Typically, I have the dog. I work the eastbound side. I work the dope side, my partner, he works the westbound side, money and guns. So he's been seeing a lot of and I just got some money the other day too for human trafficking and like I said, man, that's anywhere from 20 to 60 grand. When the dope money's been coming, man, you know, you could get anywhere from a hundred to 600. It varies. So in terms of when you get a let's talk about real quick when you get a money seizure, what's the process on a money stage? In other words, how much of that stays local? How much of that goes to the state? Like you say, it's tricky. Everybody wants, it's like the mafia. Everybody wants to get their git. You know, I pay you, you pay him. I almost feel like I'm paying John Gotti here at some point, but if you season a $1 million, how does it get split up? So it's frustrating to me, man. And it's kind of why, like I said, I try to stay away from the money. So there's a different stop. So if it's a stop that say it involves my group, my DEA group or another DEA group that had multiple TFOs from multiple agencies, then it's going to get split amongst everybody in the group..
NewsRadio WIOD
"nuevo leon" Discussed on NewsRadio WIOD
"Some people just can't be bothered. I find this awesome Other other people have ice in their veins. But both of those descriptions fits this guy who's caught on surveillance video at a restaurant in Nuevo Leon, Mexico, Jimmy the guy casually eating his chicken wings while the place is robbed at gunpoint. Even when the gunman points his weapon out of the guy just keeps hating, even calmly handing over his mobile phone while he takes a bite of his chicken wings. It's amazing to watch the video. It's shocking, hilarious at the same time, Watch it for yourself. We have posted it on the front page at w i o d dot com Amazing. Hey, man, You know what I miss? I miss my commute in the morning. Well, it's easy to miss a commuted 4 30 when you don't have to sit in traffic, although you used to deal with construction all the time. Oh, no kidding. Uh, they're picking up the cones down. Okay? Gotcha. But I'm not alone. A lot of people who miss their commute as they're working from home. We'll tell you all about that. Straight ahead at 8 52 traffic at 8 50 in Agios 16. W i o, But take a bodega Bodega girlfriend, Omega, uh, Siamese sailors sell celery sandwiches. A wing about us are being bladder. Jamie. Yes. Did Did you want to try reading that line on the script there? Oh, yeah. Let's see. Uh, you could say big when you bundle your home and auto with progressive. That one? Yes, Yeah. No, I'm just not warmed up yet. Shouldn't be long detector test. Bundle your home and auto with progressive today the marmot mangled by Mushu pork pancake, progressive casualty.
Hollyweird Paranormal
"nuevo leon" Discussed on Hollyweird Paranormal
"Late word from mexico tonight. That searchers have found what appears to be plane wreckage near where an american registered corporate jet went missing this morning with latin music superstar. Jenni rivera on board tonight from here in her native southern california to across latin america fans in colleagues the three time grammy nominee are expressing shock and grief over the fate of rivera and the six other people who were on board the jet. There were no reported signs of survivors at the apparent crash site. Nbc's miguel almaguer outside rivera's home in encino california with the latest nba. She was known as a diva ranson. Yara who had a voice together the masses and the stardom to take over the entertainment industry. Jenni rivera was the leading lady in regional mexican music. On december nineth of two thousand and twelve delores johnnie jenni rivera shocked millions when she tragically died in a plane crash over. Nuevo leon mexico. The business jet carrying seven people on board took a nosedive minutes after taking off from monterrey. Mexico just hours after.