Jul 22, 2011

Is the Mexican Economy Booming?

A critical analysis of the supposed "good news" of Mexican economic growth and resulting lower migration to the U.S.

Is the Mexican Economy Booming? | North American Congress on Latin America: "Mexico’s Secretary of the Treasury, Ernesto Cordero, recently provoked some outrage when he announced that Mexico “was no longer a poor country.” Mexico, he tweeted to the press, echoing the line of the ruling National Action Party (PAN), “is now a middle income country.”

Well, maybe. Gross domestic product is growing but so—as opposition politicians were quick to point out—is the measured rate of poverty and the number of people eking out a living in the informal sector of the economy. Cordero’s claim has been received with little credibility in Mexico, but with a great deal of interest in the United States, which has a stake, for a number of reasons, in Mexican stability"

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