Pesquería just outside Monterrey, Mexico, has been nicknamed “Pes-Korea” by locals as carmaker Kia increased production at its factory, which is soon to be expanded to produce electric cars.
Across town, warehouses are springing up along the road to a vast Chinese industrial park. Some property billboards are translated into English, Korean or Mandarin.
Industrial real estate is expanding, yet at the same time vacancy rates are below 2 per cent. Developers are even building a physical symbol of the hubris: a skyscraper taller than the Empire State Building.
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