The New Mexico

Interesting article in last Monday’s USA Today, In Mexico, an energized economy raises hopes.

…many Mexicans say their future looks brighter than it has in generations.

The economy is growing steadily, and poverty rates are declining significantly. Crime is down, public health and education levels are improving, and Mexico’s democracy is more robust than at any time in its history.

An improving economy is encouraging many Mexicans to stay home.

The brighter economic outlook in Mexico is one reason the number of migrants caught by U.S. border agents has declined 20% during the past year or so, although tighter border enforcement and the slowing U.S. economy also are factors…

Other factors helping Mexicans: NAFTA. Didn’t Democrats oppose NAFTA?

The 1994 North American Free Trade Agreement opened a huge market for Mexican-made goods, spurring the construction of factories along the U.S. border.

Curbing spending:

…a new generation of government technocrats, many of them Ivy League graduates, began to tame the runaway public spending and inflation that had locked the Mexican economy in bust-and-boom cycles for generations.

Election of conservatives:

In 2000, the conservative Vicente Fox became the first president from outside the PRI in seven decades. Under Fox and his successor, Felipe Calderón, inflation has averaged about 4% a year with no major financial meltdowns.

One thing is becoming obvious, the quality of life is improving.

Mexicans are living longer 75 years vs 78 in the U.S.
Infant mortality is falling, 15.7 deaths per thousand vs 6.37 in the U.S.
Extreme poverty is falling to 3.0%
Earnings have risen in last ten years. GDP per capita has risen from $3,084 to $8,190
Car and light truck sales are rising
University enrollment is rising.

Obviously, many Mexicans have found the U.S. attractive from a wage standpoint. Many Americans find Mexico attractive for its cheaper housing and lower food prices. You can also hire a maid, a cook and a gardener, all for a total of $30 a month. For a retiree that’s music to one’s ears.

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