Book contents
- Frontmatter
- Contents
- List of Contributors
- Foreword
- Power Shifts and Global Governance
- Part One Theoretical and Analytical Reflections on Global Governance
- Part Two Power Shifts, Regional Experiences and Global Challenges
- 7 Global Power Shifts and South Africa's Southern Agenda: Caught between African Solidarity and Regional Leadership
- 8 Mexico as an Emerging Power in the Present World Scenario: Global Economy without National Development Strategy?
- 9 Trilateral Relations among Africa, China and Europe: A Chinese Perspective
- 10 South America and US Relations: Implications for Regional Security
- 11 The Future Developments in Global Governance – Multilateralism & Regionalization Process: India's Role
- 12 Managing Social Issues for Sustainable Development: The Indian Experiences
- Part Three Case Studies in Global Governance
- Notes
8 - Mexico as an Emerging Power in the Present World Scenario: Global Economy without National Development Strategy?
from Part Two - Power Shifts, Regional Experiences and Global Challenges
Published online by Cambridge University Press: 05 March 2012
- Frontmatter
- Contents
- List of Contributors
- Foreword
- Power Shifts and Global Governance
- Part One Theoretical and Analytical Reflections on Global Governance
- Part Two Power Shifts, Regional Experiences and Global Challenges
- 7 Global Power Shifts and South Africa's Southern Agenda: Caught between African Solidarity and Regional Leadership
- 8 Mexico as an Emerging Power in the Present World Scenario: Global Economy without National Development Strategy?
- 9 Trilateral Relations among Africa, China and Europe: A Chinese Perspective
- 10 South America and US Relations: Implications for Regional Security
- 11 The Future Developments in Global Governance – Multilateralism & Regionalization Process: India's Role
- 12 Managing Social Issues for Sustainable Development: The Indian Experiences
- Part Three Case Studies in Global Governance
- Notes
Summary
Introduction
From a long-term perspective, the Mexican economy has achieved important and structural changes since 1982. From that year to date, the Mexican economy has deeply modified its macroeconomic priorities to manage economic policy instruments, the correlation between its economic determinants to growth and its external linkages to face the emerging regional and global markets. From then to now, the Mexican economy has increasingly abandoned its international low profile to develop into a more active player in the open markets; however, it must be said, not always with successful results.
In 1994, in the middle of a deep political crisis and just a few months before a new economic recession, Mexico had reached at least three significant goals related to its external sector: i) to modify the composition of its exports; ii) to start with Canada and the US the North American Free Trade Agreement (NAFTA), signed in 1992; and, iii) to join, as a formal member, the Organization for the Economic Cooperation and Development (OECD).
Following a severe social and political turmoil, 1994 ended with the sadly known ‘December error’ and recession ensued. The Mexican economy suffered its deepest recession with higher inflation in 1995: the annual percent change of the GDP was -6.2 and the annual per cent change of the consumer prices at the end of the year reached 52 points.
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- Information
- Power Shifts and Global GovernanceChallenges from South and North, pp. 153 - 166Publisher: Anthem PressPrint publication year: 2010