How Chinese Criminals Secretly Move Millions for Mexico Cartels

05/12/2021

Source: Insight Crime

While the involvement of Chinese money-laundering rings in handling drug proceeds from Mexico is nothing new, a number of recent court cases in the United States have revealed crucial information about how these schemes work.

InSight Crime looks at how colossal amounts of money are being laundered, the seemingly legitimate businessmen behind it all and why US prosecutors are stumped about how to proceed.

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Mexico minister plans visits to Russia, China, India, U.S. over vaccines

04/06/2021

Source: Reuters

Tue, April 6, 2021, 12:06 PM·1 min read

(Updates with details of visits)

MEXICO CITY, April 6 (Reuters) – Mexico’s foreign minister said on Tuesday he planned visits soon to Russia, China, India and the United States as part of his government’s efforts to make sure that its supply agreements for vaccines against COVID-19 are honored.

Speaking at a regular government news conference alongside President Andres Manuel Lopez Obrador, Foreign Minister Marcelo Ebrard said the dates for his visits were still to be confirmed, but that he planned to embark on them “very soon.”

“The aim is to ensure that Mexico has the vaccines agreed in the times set out during the next few weeks,” Ebrard said.

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Mexico to rely heavily on Chinese vaccines

03/10/2021

Source: The Associated Press

MEXICO CITY (AP) — Mexico announced a huge bet on Chinese vaccines Tuesday, without making public any information about their efficacy.

Foreign Relations Secretary Marcelo Ebrard said the Mexican government has signed agreements for 12 million doses of the yet-unapproved Sinopharm vaccine and increased to a total of 20 million doses its contracts for the Coronavac dose made by China’s Sinovac.

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Mexico approves China’s CanSino and Sinovac COVID-19 vaccines

02/10/2021

Source: Reuters

MEXICO CITY (Reuters) – Mexico has authorized emergency use of the Chinese Sinovac and CanSino COVID-19 vaccines, Mexico’s Deputy Health Minister Hugo Lopez-Gatell said on Wednesday.

Mexico’s vaccination drive has gotten off to a slow start, and officials in Latin America’s second-largest economy are hoping to source millions of doses from China to boost their efforts amid global vaccines shortages and delays.

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Special Report: Burner phones and banking apps: Meet the Chinese ‘brokers’ laundering Mexican drug money

12/03/2020

Source: Reuters

GUADALAJARA (Reuters) – Early next year, a Chinese businessman named Gan Xianbing will be sentenced in a Chicago courtroom for laundering just over $530,000 in Mexican cartel drug money.

Gan, 50, was convicted in February of money laundering and operating an unlicensed money-transfer business that whisked cartel cash from U.S. drug sales offshore. Gan has maintained his innocence; his lawyers say he was entrapped by U.S. authorities. The trial garnered few headlines and little of the public fascination reserved for kingpins of powerful narcotics syndicates that U.S. federal prosecutors said Gan served.

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Mexico peso headed for choppy waters on back of trade uncertainty

peso

10/24/19 – Reuters

By Abraham Gonzalez

Mexico’s peso is headed for choppy waters in what remains of 2019 as the ongoing U.S.-China trade war and the uncertain fate of the new North American trade deal could cause the currency to fluctuate between 18.80 and 21 per dollar, analysts say.

The peso’s immediate future ultimately depends on whether the world’s two largest economies can resolve their trade dispute and if U.S. lawmakers ratify the new U.S-Mexico-Canada (USMCA) trade agreement before it gets bogged down in the U.S. electoral politics.

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Trade War ‘Uncertainties’ Scramble Denim Sourcing Map

 

photo of blue denim textile
Photo by Engin Akyurt on Pexels.com

10/08/19 – Sourcing Journal

By Arthur Friedman

Mexico has leapfrogged China as the top supplier of denim apparel to the U.S., according to new data from the Commerce Department’s Office of Textiles & Apparel (OTEXA), as the impact of the trade war with the U.S. caused major shifts in sourcing even before 10 percent tariffs on Chinese apparel went into effect on Sept. 1.

Imports of the blue denim apparel, 97 percent of which are jeans, from China fell 13.47 percent to a value of $517.78 million in the year to date through August compared to the same period in 2018, OTEXA reported. In the same period, jeans imports from Mexico increased 8.84 percent to $558.86 million.

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Mexico may be an unexpected winner of the US-China trade war

birds eye view photo of freight containers
Photo by Tom Fisk on Pexels.com

09/12/19 – CNBC

By Grace Shao

China and the United States are disrupting trade in much of the world with their trade war — but Mexico may be a winner.

Despite fresh hopes among investors for a peaceful conclusion, the trade conflict that began between the world’s two biggest economies more than a year ago shows no substantive signs of ending.

But amid all the chaos, Mexico is coming out on top, said John Murphy, senior vice president for international policy at the U.S. Chamber of Commerce. Mexico, he said, has been able to build on its emergence as a manufacturing hub “with free-trade agreements that offer guaranteed access to more than 50 foreign countries.”

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U.S. imposes duties on structural steel from China, Mexico

steeltariff_060118getty09/04/19 – Reuters

By Eric Beech & David Lawder

The U.S. Commerce Department said on Wednesday it imposed duties on Chinese and Mexican structural steel after making a preliminary determination that producers in both countries had dumped fabricated structural steel on the U.S. market at prices below fair market value.

The department said it imposed duties of up to 141% on Chinese structural steel and up to 31% on Mexican structural steel and will begin collecting cash deposits for imports based on those rates.

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Beijing stays silent on new US trade deal with Mexico and Canada

10/04/2018 Politico

chinaThe Chinese government and its official media have remained silent on the new trade deal agreed between the US, Canada and Mexico this week, even though the pact is widely seen as a potential threat to China’s future position in the global trading system.

Since the US-Mexico-Canada (USMCA) Agreement was made on Sunday – on the eve of China’s week-long National Day break – the foreign and commerce ministries in Beijing have not released any comment on the deal, which could help Washington in its escalating trade war with China.

The agreement, a revision and update to replace the North America Free Trade Agreement, includes a special clause empowering the US to review or effectively reject any free-trade deal that Canada or Mexico might make with a “non-market economy”. That stipulation is seen by analysts as targeting Beijing since China continues to be designated a non-market economy by both the United States and the European Union.

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