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Thursday, May 26, 2011

Mexico's stocks

My latest at Research magazine: "Mexico's Resilient Market." Excerpt:
Mexico’s long-ago president, José Porfirio Díaz, is credited with a memorable, though likely apocryphal, quote, which translates as: “Poor Mexico, so far from God and so close to the United States!”

Díaz, who as a youth fought against the U.S. in the Mexican-American War, was overthrown in the 1911 Mexican Revolution, but his desire to keep some distance from the giant northern neighbor echoed through the 20th century in Mexican policies that kept a tight rein on cross-border trade and investment.

In recent decades, though, and particularly since the North American Free Trade Agreement went into effect in 1994, Mexico’s policymakers have sought to capitalize on their country’s proximity to the U.S. Consequently, Mexico has attracted investor interest for its uncommon identity as both emerging market and member of a vast trade bloc.

UPDATE: I'm slated to talk about this article on the Gabe Wisdom Show on June 6 at 7:30 PM ET.

UPDATE: Here's the podcast.

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