You could be forgiven for thinking that senior management of Didi Chuxing, China’s largest rideshare app, were Game of Thrones fans waiting for the final season. The way they announced at the company's monthly company-wide meeting that Didi was cutting headcount 15% was as grim as a horde of white walkers: "winter is coming" ("全员会宣布过冬”). But the loss of those employees in China — as Didi focuses more on core business lines — will be offset by job growth elsewhere as international becomes a more important part of Didi’s growth strategy:
News reports say that while there will be “shutdown and transfer” and layoffs, Didi will also increase investment in key areas such as security technology, product and offline driver management, as well as and internationalization, recruiting 2,500 people.
Key to the internationalization strategy is Latin America. After buying Brazil’s 99 last year, working with Brazil’s Hub Fintech, and launching operations in Mexico, Didi has confirmed it is now expanding into the Pacific Alliance, Chile, Colombia, and Peru:
According to the analysis of the recruitment announcement on Didi on LinkedIn, Didi has sent executives from China to be responsible for the expansion of markets in Chile and Peru. In recent weeks, job advertisements about drivers’ operations, crisis management and marketing and business development positions have been released in these countries.
And indeed, just today Didi posted seven jobs in various places in Chile, Colombia, and Mexico. Over the last four weeks it has recruited for more positions in Latin America than it has in the United States or mainland China.
Didi’s focus on Latin America is indicative of two trends we have highlighted for this year:
Tech — and in particular tech services — is an area of growth in the Asia-Latin America relationship; and
As concerns about the slowdown in the Chinese economy continue to rise, Chines companies will look to Latin America as an area of growth.
¿La china CNPC con el lote 58 en problemas?— El Comercio
CNPC is rumored to have run into environmental issues in its $4.4b exploration of a natural gas reserve in Peru. Deforestation concerns have been raised, and the question is whether CNPSC will ask the government to declare force majeureto allow for a new timeline for exploration.
Japón fortalece las exportaciones de México: SE— El Economista
Japón prevé más inversiones para México en autopartes— El Economista
Guanajuato refrenda alianza comercial con Japón— El Heraldo
Japan sent a big commercial delegation to Mexico this week to meet with the new governing team there. One highlight: investment expected to be driven by the content requirements of NAFTA 2.0.
Bannon diz que Bolsonaro irá afastar Brasil da China— Brasil 24/7
Brazilian President Jair Bolsonaro (and Steve Bannon) keep saying that Brazil and China will go their separate ways. Vice President Hamilton Mourão says the two countries “need more of each other."
China anuncia tarifas antidumping ao frango do Brasil por 5 anos— Estado de Minas
BRF and JBS Group are among the 14 Brazilian companies that will not be subject to Chinese chicken tariffs as long as they sell above an undisclosed floor price.
China continues to walk a fine line in Venezuela
US SOUTHCOM head Admiral Craig Faller tells the US Congress he’s nervous about that Chinese space tracking station in Neuquén, Argentina.
Onde o Brasil pode ganhar na guerra comercial entre EUA e China— Gazeta do Povo
China considera irracionais críticas dos EUA à sua presença na América Latina— Diário de Notícias
Trade war. US National Security Advisor John Bolton calls China “predatory”, and US Ambassador to Colombia Kevin Whitaker calls it “nefarious."
China — LAC
Pera chilena podría ingresar al mercado chino— Economía y Negocios
Relaciones diplomáticas México-China— El Universal
Las cerezas chilenas logran un gran éxito durante el festival— People’s Daily
La Ruta de la Seda llega a las Américas— Estudios de Política Exterior
EPV y empresarios chinos estudian instalar hub alimenticio en Valparaíso— Portal Portuario
Medellín Colombia con nueva flotilla de buses eléctricos de China BYD— Energia Limpia XXI
El fantasma de la chino-dependencia— La Tercera
Mexican avocado exports rise sharply to Canada, China and Japan— Fresh Fruit Portal
El desafío de venderle a China— Clarín
Korea — LAC
S. Korean Banks Accelerating Entry into Latin American Market — Business Korea
Japan — LAC
India — LAC
Venezuelan Oil Finds Home in India as U.S. Shuns Shipments— Finance Yahoo
Venezuela doubling oil exports to India - minister— BN Americas
GCC — LAC