At the start of each month we usually post examples of new investment in Mexican industry, such as announcements of new manufacturing or processing plants and expansion of existing ones. For April 2020, we are disappointed to report that we have no such examples to share, due to the COVID-19 economic shutdown. We imagine that some companies are taking advantage of mandatory plant closures to clean, reorganize or upgrade their facilities, but we have not read about these so we are just going to have to accept our first shutout in the 11 years we have had the privilege of publishing this investment list. As with so many repercussions of COVID-19, you think you’ve seen it all, but it turns out you haven’t.
The media have done an admirable job covering the crisis, but for those of you who don’t follow Mexico closely, here is a very cursory summary of approximately where we are at the start of May 2020: Continue reading No new investment this month→
March 26, 2020, day whatever of the COVID-19 global crisis, and we’re here to report that Mexico City is still hopping. We’re not going to say that things are normal — they’re not — but we took a bike ride up Av. Alvaro Obregon in central Colonia Roma at lunch time today and the stores and restaurants were open with customers. There’s no question that foot traffic is way down (vehicle traffic was fairly heavy), but there were people out there ordering their glasses of wine or beer while perusing menus at outdoor cafes. The media are telling us that this is not the case in most of Europe right now, so maybe it’s no wonder that the occasional tourist couple can still be seen stubbornly sticking out the remainder of their Mexico City vacation. Continue reading Mexico City COVID-19 update March 26→
It’s Friday afternoon here in Mexico City’s popular Condesa nieghborhood and the joints are rockin’. Goin’ round and round, one might even say. Good Time Charlies and Janes are getting after it early for the Benito Juarez holiday weekend, and the beer, wine and mezcal are flowing unto them as a mighty river. Naturally, we are led to recall that time when Jesus totally harshed the disciples’ mellow by announcing that there would be famines, pestilences and earthquakes in divers places (Matthew 24:7), adding that all these would be the beginning of sorrows (24:8). In Mexico, famine is a fairly ongoing affair for large swaths of the population and we had the earthquake two years ago, so one could be forgiven for thinking that maybe it’s finally time for the pestilence, considering the current state of world affairs. Continue reading Mexico City: What, me worry?→