Friday, July 19, 2024

Mexico’s Growing Economy Paves the Way for New Realities






Mexico’s growing economic impact is changing the relationship between the U.S. and the Latin American country, as was made evident during President Obama’s visit to the region last week.

Mexico had an economic growth of 3.9% last year and it is expected to continue rising this upcoming year.  The growing Mexican economy has sparked an expansion in the middle-class which has helped U.S. companies.

“U.S. exports to Mexico grew $51 billion in the last two years, and that’s more than anywhere else in the world,” said Jodi Bond, Vice President for the Americas at the U.S. Chamber of Commerce. “Mexico is helping us with a manufacturing resurgence, and U.S. companies are growing because the Mexican middle class is growing.”

President Obama reassured that he takes Mexico’s growing economic power and democratic advancement seriously.

“Some Americans only see the Mexico depicted in sensational headlines of violence and border crossings. Some Mexicans may think America disrespects Mexico, that we seek to impose ourselves on Mexican sovereignty,” Obama said during his visit. “I have come to Mexico because it is time to put old mind-sets aside. It’s time to recognize new realities, including the impressive progress in today’s Mexico.”

The Washington Post