国际货币基金组织：全球价值链的重新定位：墨西哥的作用（英文版）

The paper documents recent changes in trade flow dynamics between Mexico, the U.S. and China, focusing on the period around 2017-2023. Using product-level bilateral trade data, the paper studies recent trends in the composition of the origin of U.S. imports, notably that a reduction of imports from China has been accompanied by an increase in imports from Mexico and other trading partners in Asia. The paper also documents that while Mexican exports to the U.S. have significantly increased in