Mexico prospers despite U.S. slowdown

The Mexican economy showed good growth for the first three months of this year, despite the fact that the United States is flirting with recession. Marla Dickerson writes in the L.A. Times:

"The fortunes of Mexico have long been linked to those of its northern neighbor, bound as the two countries are by geography, immigration, trade and investment. The U.S. housing industry, for example, which employs 1 in 5 Latino immigrants, is in a slump, resulting in a marked slowdown of remittances sent to Mexico. A prolonged downturn would undoubtedly hit Mexico hard."

Still, the nation's economy is holding up well. One factor is that much of the world economy is growing despite the U.S. slowdown. Although Mexico still ships about 80% of its exports to the U.S., its farmers and manufacturers are looking for new customers in Asia, Europe and the rest of Latin America.

Read on...

-- Deborah Bonello in Mexico City

Photo credit: VW of Mexico

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Comments

[eljefejesus]

The crazy one-issue extremists are still harrassing others in topics that don't mention immigration.

The topic is Mexico's relative strength and stability.

I take away from this additional evidence of the improvement compared to the days when it was more state-centered and indebted with crisis after crisis before the economic reforms of the last decade.

[lois]

Please note that our loving neighbors are not trying to support the US in its economic crisis, they are going to the Asian, European, and latin American market. When will we get it? They are coming here to take what they can get, no more, and no less. When you pay "them" to mow your lawn, etc., you are giving them monies to send as remittances to support families in Mexico, that Mexico is able to support, but won't. Those monies from that lawn cutting are going to Mexico so that they can seek other markets, since the US is not as profitable to them as it once was. Wake up America!!!

[eljefejesus]

Shows how quickly some economic and financial reforms can start having an effect...

[MaryJ]

Good. Now they can have good jobs waiting for all the unwanted illegal aliens that we need to deport back home.