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¶ … business situation if you were John Martin?
Mexico is the third largest trading partner of the United States. This partnership has thrived courtesy of NAFTA agreement between the U.S. And Mexico. The two countries have become more than siblings since the implementation of the agreement. U.S. firms investing in Mexico have historically gained an increase in profits and economic viability. I would advise John Martin to invest in Mexico as it has proven to reduce costs involved in the production. This will help boost the company's manufacturing output because it has never experienced before the enactment of NAFTA (Keesing and Martin 34).
Currently, the survival of the company is uncertain since NAFTA does not eliminate tariffs as it only allows its companies to chip products to foreign nations by providing an increase in quotas. If Martin's Textiles fails to shift its operations to Mexico, it risks losing major customers because it has recorded losses for the past several years (Hiemstra-Kuperus and Meerkerk 40). As the...
This responds to the firms that shifted to Mexico because of the rising cost-competition in the textile industry. The textile sector is based on a labor intensive and low skilled workforce. In order to cut costs, I would lower my labor costs and the best approach to achieve this will be to shift my production base to Mexico (Keesing and Martin 67).
Mexico is among the leading manufacturers of textile and the commanding textile supplier to the United States. However, despite the increasing costs of textile, Martin's Textiles is entangled in a dire financial condition as its production is poised to decline. Without significant foreign investment in Mexico, the company will be unable to grip…
Works Cited
Hiemstra-Kuperus and Meerkerk E. Nederveen. The Ashgate Companion to the History of Textile Workers, 1650-2000. Farnham, Surrey, England: Ashgate, 2010. Print.
Keesing, Donald B, and Martin Wolf. Textile Quotas against Developing Countries. London: Trade Policy Research Centre, 1980. Print.
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