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Mexico Economy: A Free Market Economy

Neha Dhamija


Mexican economy can be graded as one of the growing and successful economy of North America. It is listed on the twelfth position among the top economies of the world. Mexico economy is a free market economy having its trading agreements with some big economies like Canada and US.


Mexican economy has been pointed out as the economy with highest per capita income and highest purchasing power that has recorded a tremendous hike in the exchange rates of the Mexican currency. This economy is a blend of modern as well outdated agriculture and industry, featuring the dominated influence of private sector on it. It is also looked as a tough competitor in some significant sectors of an economy like railroads, seaports, telecommunications, natural gas distribution, electricity generation and airports.

Mexican economy lays substantial emphasis on improving the market orientation, preserving and utilizing the natural resources, economic development and on the betterment of some areas of specialization. It also pays a simultaneous focus in making amendments in the trade policies.


In spite of infusing such sincere efforts, from the last few years Mexico economy is suffering some upsetting downturns due to several disturbing forces. The rural development over the past few years has been negligible and the monetary gaps are widening on a faster pace. This is due to the lack of notice and focus on the development of the backward sectors. Further, income is being unequally distributed and governmental risk and instability is continuously mounting. Several other areas that are needed to be modified include the social infrastructure. Additionally the tax system, labor laws and outdated industrial technology needs to get revised and updated in order to get itself listed as the on of the most successful and developed economy.

 
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