Political stability has been maintained in Mexico since the early 1990s. During the mid-1990s, President Ernesto Zedillo’s regime introduced reforms to the Mexican electoral systems, creating a level playing field for opposition parties. Later on, the Vicente Fox government supported the reforms during the early 2000s and implemented legislation to overhaul the existing economic and political landscape. The following president was Felipe Calderon, whose government promoted regional cooperation and free trade. In order to enhance global competitiveness, he proposed to increase foreign investments in crucial economic sectors. The 2011–12 Global Competitiveness Report revealed that Mexico was placed in 58th position, improving eight places compared to the previous year’s ranking. The newly elected president Enrique Pena Nieto will take the office for six years from December 1, 2012. The new president has pledged to focus on tax reforms, labor, and energy, and he hoped to unite with the opposite parties to make progress for the country. Economic
Due to the recession in 2009, Mexican economy contracted by 6.2%. However, driven by external demand, the economy bounced back with growth of 5.5% in 2010. In 2011, the economy has a growth rate of 4%. The Mexican economy is closely integrated with that of the US. In order to improve external trade with non-US countries, Mexico has initiated discussions and signed bilateral agreements with several countries including Brazil, Australia, Japan, Indonesia, India, China, South Korea, South Africa, and the United Arab Emirates (UAE). The country has largely encouraged foreign investments in several economic sectors, and liberalized its trade and investment policies. Tariff and non-tariff barriers have been considerably eliminated. Furthermore, the government attempted to stabilize the peso in the international market. Due to its anticipated commercial growth and proximity to the US, Mexico is...
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