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Mexico & Nafta - December 2012 (ISSN 1741-444X)
Mexico can be a global economic power - EPN
President-elect Enrique Pena Nieto will inherit a humming economy from his predecessor Felipe Calderón, with broad-based real GDP growth of up to 5% this year. Mexico has re-gained some of the competitiveness previously lost to Asia. With overall production costs, led by labour, rising in its main manufacturing rival China, Mexico is well poised to re-leverage its main comparative advantages – namely its proximity to the US, its relatively transparent and stable business environment and its rapidly improving infrastructure – to embark on a new phase of export-led growth, based on an increasingly sophisticated and high valued-added industrial product mix. Allied to this is its booming domestic consumer market.
