Mexico

Mexico remains far behind it's North American neighbours, economically it has become stagnant and sluggish, and as a result the nation has been riddled with social inequality. But some might argue that unlike other nations, Mexico has been pampered and is left without excuse for remaining in such a state of underdevelopment, so far behind the West. But to the contrary I believe that it is that very “pampering” and extra attention from Washington that has led to Mexico's current state, its location and close relationship with the US have, in my opinion, become the downfall of the Mexican economy. In fact, I would go so far as to say, Mexico’s current economic condition of relative underdevelopment can be traced directly back to the influence of the Washington Consensus and policies implemented at the behest of neoliberal financial institutions, specifically the IMF and World Bank, who are in favour of a free market. Despite the bit of good that has come from Western influence in Mexico, much of the neoliberal policy that came with it have become the very things holding Mexico back, the fact of the matter is that as long those policies remain so will Mexico's economic impediments.

In the last 20 years, much has happened in Mexico's economy and a look at the nations past may give a better understanding of how it got here and where it is headed as of now. In the last century, Mexico has gone from being a rural, illiterate, backward, largely peasant nation to a preponderantly urban, literate, working- and middle-class society (Castaneda and Pastor, 1988). And even in the past few years the nation of Mexico has only accelerated towards global economic participation. Having taken the nation from being a developing country to slowly bec...

... middle of paper ...

... poverty, presenting an anomaly for economic specialists worldwide. It would seem that the North American inclination towards a stronger bloc, should by default lead to the support of Mexico under the leadership of the United States and Canada, but according to the facts Mexico is, at best, being dragged from far behind. Now, am I arguing that all the employees at these Bretton Woods Institutions are determined to see the demise of the Mexican economy? No, in fact, it is very likely that every single employee is convinced that these policies are the best possible thing for both Mexico and the rest of the Developing Countries. But that these rigid neoliberal policies are detrimental to at least Mexico, if not every other nation, needs to be made clear. The facts prove that such neoliberal policy has and will continue to have a negative effect upon Mexico's economy.