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March 8, 2013

Tone Down the Hype on Mexico Boom

Tim Padgett, Time

AP Photo

I couldn’t be happier that Mexico’s economy is rebounding. After barely 2% average annual growth between 2000 and 2010, the country’s GDP expanded almost 4% in 2011 and 2012. Investment is booming and the middle class is enlarging. Mexico’s manufacturing exports lead Latin America, and its trade as a share of GDP tops China’s. Its No. 53 spot on the World Bank’s ease-of-doing-business rankings far outshines the No. 126 grade of its main regional rival, Brazil; it has signed more free trade agreements (44) than any other country, and it’s enrolling more engineering students than any south of the Rio Grande. As I noted a year ago, it’s a trend well worth applauding.

But I emphasize: it’s a trend. It’s not the...

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