Mexico’s capital idea. (Mexico’s economy and its need to attract foreign investors)

MEXICO’S CAPITAL IDEA

The real Mexican economy is beginning to stagger to its feet. For the last 10 years it has been swamped by cheap foreign loans and plentiful oil money. When times were good, Mexicans spared little thought for diversifying the economy and were certainly not going to let any outsiders do it for them.

That left oil accounting for more than 70% of the country’s export earnings and a foreign debt of $97 billion.

Now the oil revenues have slowed to a trickle and the Mexicans have suddenly woken up to the realities of modern international trade.