by Juan Lee
Bet you never thought Mexico would be doing better than the US at anything, much less a more effective government. Hat’s off to President Calderon who is being termed out this year. He’s done a remarkable job of fixing Mexico’s economy.
Today is election day in Mexico and looking back at the progress of the Calderon government makes it hard to believe this would not make his party’s successor a shoe in, but he’s not, odds are he will lose by a wide margin.
President Calderon maintained moderate public spending with solid fiscal accounts and this will give the next president a country with sound economic fundamentals and a rapidly improving investment climate that is attracting international investors.
Calderon’s achievements are low inflation, low interest rates, a solid and stable Mexican Peso, an expanding manufacturing and industrial base, free trade agreements that have expanded Mexico’s markets, record job creation that has halted immigration to the United States down to zero in the past years, a sophisticated labor force that is manufacturing high quality cars, air crafts components, plasma television sets, appliances, mobiles and computers, the rising strength of Mexico’s entrepreneurial class with Mexican firms of global reach, successfully established government programs that are supporting thousands of start ups all over the country in one the most complex economies of the world.
Despite this, Mexico still has a long way to go. Many people still work long and difficult hours only to earn $30-$40 a week. Mexicans look at the wealth up North and wonder, why can’t we have that and right now? This is where the leftist PRI party starts selling it’s snake oil. The PRI’s candidate is Enrique Pea Nieto. He’s a handsome, well spoken man that says what the people want to hear. He’s also married to one of Mexico’s most popular Soap stars. Although he’s been linked to corruption and payoffs, he’s sponsored by Mexico’s largest television network and that gives him all the airtime he needs to play down his critics. But, does corruption really matter much in a country so accustomed to it? I think not.
Polling shows voters are likely to vote for the PRI because they blame Calderon’s party (National Action Party) for the 50,000 deaths at the hands of the cartels in recent years and the fact they want more progress, no excuses. Nieto is running on a chicken in every pot platform and he vows to halt the endless and unproductive war on the narcos which will open the flood gates for Americans with too much money and a big appetite for Mexico’s illicit drugs. We hope a leftist victory in Mexico won’t be foretelling of USA’s election in Nov.