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I look at things such as the HDI index, per capita, it's GDP from a few decades ago and it seems that Mexico was really on top of other 3rd world countries. Though there was a lot of poverty, I did hear stories about how Mexico was growing at a good and very healthy rate and it was on its way to being something like the US, Europe, Japan, Australia. But there were 2 criseses and they both changed everything and made people cynical about their government and economy. This also triggered mass immigration to its major cities or to the US. How would Mexico be if it weren't for its 2 economic crises?
Mexico would always be behind due to weaker legal structure and less developed capital markets. Both crises were caused by currency manipulation and poor lending practices. With a floating currency and a global capital market based on credit ratings today similar crises are very unlikely, but the economy is still at the mercy of the US economy.
Would be better, but as the Mexican economy remains linked to the United States, this will be an obstacle to full development, since the United States decays and takes Mexico with him.
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