Mexican Economic Woes Highlighted
That article, by San Francisco Chronicle reporter Carolyn Lochhead, while focusing on the current hits that Mexico's economy is/has been taking (and how that impact will magnify an already reeling lower class) also emphasized the tremendous strides that Mexico has taken in the last 20 years. It noted the percentage of citizens deemed to live in extreme poverty has declined from 18.6% in 1990 to 9% in 2006 (I suspect though a reversal in that trend this year).Another aspect that was cited as having a decided economic impact on Mexicans was the decline in remittances sent home by immigrants (legal and illegal) to relatives in Mexico - however, not mentioned, but somewhat mitigating is the change in in currency values - the exchange rate a year ago was around 10.5 to 1, as of today, it stood at 13.8 pesos to the dollar.
Perhaps a little more sanity (and sensitivity) would go a long way in aiding one of our most important trading partners in this time of great stress for both countries.
Labels: Mexican economy, Swine flu




