For decades, companies looking to lower costs have resorted to offshoring—moving their manufacturing to China and other nations in Asia. But US-China tensions and a desire to simplify long, complex supply chains are now leading a growing number of businesses that serve US customers to do the reverse—“nearshoring.”  They’re relocating some or all of their operations to Mexico.

Bloomberg’s Maya Averbuch and Leda Alvim join this episode to talk about Mexico’s manufacturing boom in everything from electric vehicles to baked goods—and why it’s a critical moment for the country’s economy.

Read more: Mexico’s Moment: The Biggest US Trading Partner Is No Longer China

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