Mexico's Economic Dilemma

Mexico's Economic Dilemma

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Written by two leading scholars, this book provides a detailed analysis of Mexico's political economy. James M. Cypher and RaAol Delgado Wise begin with an examination of Mexico's pivotal economic crisis of the 1980s and the consequent turn toward an export-led economy, later anchored by NAFTA. They show how Mexico, after abandoning frequently successful past practices of state-led development, disastrously tied its future to an unconditional reliance on foreign corporations to promote an export-led growth strategy. Focusing on Mexico's cheap labor export model, the authors use the maquiladora sector and the auto industry as case studies of the perils of globalizationa€”the qrace to the bottomq as capital becomes ever more international. The government's unconstrained free-market policies, they convincingly argue, have resulted in a fragmented economy marked by stagnation, falling wages, informal part-time employment, and massive migration, which define daily life for all but a tiny minority.That support, along with a 10 percent tariff on imported auto parts, was eliminated in 2003. ... But in our interviews with the Japanese TNC Nissan, at its Aguascalientes plant in the closing months of 2007, the a€œshrinking ... national policies and the financial and coordination problems experienced at the regional level, has made the determination to attempt to expand its national supplier base sui generis.

Title:Mexico's Economic Dilemma
Author:James M. Cypher, Raúl Delgado Wise
Publisher:Rowman & Littlefield Publishers - 2010-07-16


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