If you believe the Mexican government and its former president are worried about the plight of their poor workers toiling away on American farms, think again. They are worried about one thing: money.
Say what you will about FORBES’ No. 324, but he scares the Bank of Mexico more than he scares Mexicans.
The Associated Press was the first to point out just how important Mexican immigrants, both legal and illegal, are to the health of the Mexican economy. Last year, Mexicans in the U.S. wired $24.8 billion to family members. That’s more than Mexico’s economy brought in from oil revenue and is nearly half of what a country the size of Brazil brings in from foreign direct investment (FDI).
Former Mexican president Vicente Fox and current leader Enrique Peña Nieto can shout all they want about Donald Trump’s controversial border fence proposal. But their unvoiced concern is how U.S. immigration policy impacts for their biggest source of foreign capital.