Taking A Look At The Mexican Economy

In 2001 the world began talking about the BRIC countries - Brazil, Russia, India and China - as potential powerhouses of the world economy. The term was coined by economist Jim O'Neill, who has now identified the "Mint" countries - Mexico, Indonesia, Nigeria and Turkey - as emerging economic giants (The Mint countries: Next economic giants?, 2014). MINT countries show the greatest potential for a significant increase in growth of their economic activities in the near future. All four countries have gained attractiveness over the past five years, with Turkey and Mexico ranking even ahead of Brazil and Russia (Which Are the Best Countries to Invest In?, 2014).
Following are a few quick facts about the potential of the Mexican economy and its

It is a member of OEDC and G20. Today, Mexico is an open economy with trade agreements with over 40 countries. Mexican economy is a concoction of modern as well as out-of-date practices both in industrial and agricultural sector, private sector dominates the economy. Government of Mexico has taken multitudinous efforts in the recent times to improve the infrastructure in the country to favour its growth prospects. It has opened up competition in seaports, electricity generation, telecommunications, distribution of natural gas, airports, railroads and so on to boost the trade (Investment In Mexico,

After successfully dealing with the economic turmoil as a result of the low oil prices, again in the mid-nineties due to significant undervaluation of its currency, Mexico has experienced an impressive turn around after the turn of the century. (Investment In Mexico, 2014). Mexico’s innovations is the social policy have been a matter of global learning (2013). This momentum of growth lasted for several years, Mexico was relatively unaffected by the 2002 South American crises until the 2008 global economic crises. The financial crises of 2008 had a detrimental effect on the Mexican economy eventually taking a heavy toll on the immediate growth prospects of the Mexican economy.
Following are the macroeconomic variables that have suffered due to the global financial crises:
• EFFECT ON MEXICO’S GDP GROWTH:
Mexico’s economy was one of the worst affected due to the global financial crises as compared to the other countries in the in the Latin American region, this was largely because Mexico’s economy was immensely dependant on manufacturing exports to the US.