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International Economics - Mexico - Essay Example

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Name: Course: Instructor: Date: International Economics - Mexico Cartels and international effects Mexico is ranked the ninth largest oil producer in the world as it exports close to three million barrels daily. This is however, less than Iran, Canada and China and more as compared to Kuwait, Venezuela and Nigeria…
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International Economics - Mexico
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Download file to see previous pages This means that the production continues to fall by close to 25% across the previous ten years (Sverdrup 123). Mexico recently built its infrastructure for purposes of enhancing trade. In 2012, the trade cartels in the Mexican telecommunications industry were among the individuals in the world. However, their undertakings are nearly monopolies as they control close to 70% mobile phones, 70% broadband and 80% home phone lines. There are recent concerns that the lack of competition which continues to hamper growth. The levels of mobile-phone penetration across Mexico are only 85% which are similar to Iraq while the fast broadband connection costs are double those in Chile. Mexico's culture and economy are continually changing. For many years the economy of Mexico under-performed that of Brazil, but it has grown faster in the past year. Most Americans keep worrying about the illegal immigration even though Mexico needs to actually gain immigrants by itself. By facts, the birth rate of the country is trending downwards and could soon be way below that of the U.S. on this case, the violence linked to drug cartels is still upheld while Mexico is regarded to as a critical underground trade route for U.S. addicts (Leoce 29). In the last decade, Mexico’s priorities included upholding legal institutions, protecting the environment, providing better healthcare and improving the economic competitiveness of the country. This is also evidenced by the insuring of public security like military sweeps in cracking down the levels of organized crime as well as the corrupt local police. Part of these, the hunt for the drug cartels became most controversial. It also amounted to all-out war where there were increased levels of violence such as retaliation of the civilians by such cartels. Most Mexicans blamed the government for increasing violence and upsetting the cartels. There were a number of challenges facing Mexico's economy in the long run. The economy faced challenges such as the engraved need to modernize the labor and tax system laws, upgrade schools, health care services and roads as well as privatize the oil industry. These were expected to happen prior the foreign investors help in the extraction of more oil. However, it deprived the Mexican government more revenue (Sverdrup 73). Researchers have realized that Mexican research and development expenditure, skilled labor availability and the patents issued were radical indicators of various technological leadership ends that enabled the country to continue producing a comprehensive stretch of such technological innovations while still having found that such technology leaders focused on exporting hi-tech products and receiving imports of products of more standard. The Mexican peso crisis and international effects In the 1988 – 1994 term of the Salinas presidency in Mexico, the overall GDP growth was at an average of 3.3% annually which was a number exceeding the population growth rate (at 2%). However, it fell almost immediately for the other poor and developing countries. Even though the growth turned to be lagging behind at the pace of subsequent emerging markets, the Mexican politicians became even more willing to detail rapid economic expansion in terms of stability (Villareal 11). The new and almost stable element in this case had the Mexican economy entering 1994 with diverse ...Download file to see next pages Read More
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