Political Risk Latin America Blog @PolRiskLatam

Mexico: China keeps its distance

Posted in News and Articles, Political Risk by politicalrisklatam on June 15, 2011

by Ron Buchanan for Financial Times – Beyond Brics, June 15th, 2011.

Jack Liu had plenty of time on his hands  last weekend as he sat at his stand in the  Mexican Oil Congress.

“This is the third year our company has taken a stand at the [oil] congress,  but we’ve never raised any business,” said Liu, a manager at Beijing-based LandOcean Energy Services, a high-tech data processor for oil companies. “It’s terribly difficult to get business with Pemex [Mexico’s oil monopoly].”

The company is just one example of China’s striking failure to develop strong economic ties with Mexico at a time when it is building links almost everywhere else in Latin America.

LandOcean’s tiny display was the only Chinese stand at the whole oil show, in Puebla, Mexico City. The event sponsored by the biggest national oil industry in Latin America gathers the giants of the sector  including Chevron and Halliburton from the US, and Carso, part of the business empire of Mexican billionaire Carlos Slim. (continue reading… )


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