Line graph comparing US trade balance with China and Mexico, showing Mexico has overtaken China as the top US trade partner | Sources: Bureau of Economic Analysis
Mexico Overtakes China as Top US Trade Partner

Now, the country's trade balance with the US has been re-established to early 2000s dominance levels, kicking China back to second place.

There's no question that China has been the world's mightiest economic growth force in the 21st century.

One by one, the country surpassed every global economy's GDP figures (except for the US) by 2010. In the process, it became the top destination for all types of manufacturing and millions of new jobs. Its population in extreme poverty was decimated from 46% at the beginning of this century to virtually zero.

But in post-COVID, China's seemingly unstoppable workforce has been challenged by other countries as companies reconsider and diversify their supply chains. Mexico has become an attractive and mature market because of its competitive labor force and strategic geographic position. It's also notably a democracy (granted, with some flaws) and not ruled by an all-powerful, opaque, and unpredictable entity like the Chinese Communist Party (CCP).