Financial Times Praises Mexico’s Economic Policy, Debunks Stereotypes
For example, Mexico has posted economic growth of 5.5 per cent in 2010 and 3.9 per cent in 2011, far outpacing the United States. Industrial production in Mexico surpassed its pre-recession high in early 2011, while U.S. industrial production continues to lag.
With respect to fiscal policy and sound budgeting Mexico ran a budget deficit of 2.5 per cent of GDP in 2011, compared with 8.6 per cent for the US. National debt in Mexico is stable at 27 per cent of GDP, while in the US it is 98 per cent and rising.
Mexico has also shed its protectionist past and embraced free trade. In 1980, trade as a percentage of GDP was only 17.5 per cent. Today exports and imports represent 61 per cent of economic output. And about 80 per cent of Mexico’s exports are now manufactured goods.