One in every twenty-four U.S. workers now depend on trade with Mexico for their employment. It’s time to say “Gracias amigos!”
As the U.S. economy sputters and Europe teeters on the brink of crisis, we are desperately looking for new sources of growth. One option is to enhance our focus on fast-growing China and India. But before we send more investment and jobs to Asia, we should take a closer look at some of the opportunities right in front of us. Without many of us noticing it, Mexico has been boosting the U.S. recovery.
While much of the world is slowing down, the Mexican economy is still in expansion mode and has been a significant factor increasing our exports and creating jobs. The U.S. and Mexican economies are more intertwined than most realize. An enlightening report by Christopher Wilson, a researcher at the Woodrow Wilson Center in Washington, shows that increased trade and investment between the U.S. and Mexico since the implementation of NAFTA has created a virtuous cycle which benefits workers and companies on both sides of the border.
Here are four big ways that Mexico is boosting the U.S. economy…