Many people would be stunned to find that the Mexican economy is ranked right up with the U.K. and Italy.
Mexico has the 11th-highest GDP in the world based on purchasing power parity, according to the International Monetary Fund. As Europe weakens, it will be in the top 10 in the not-too-distant future.
Yet, this country is regarded by many Americans as a Third World nation, dominated by drug cartels and impoverished people desperate to get into the United States.
Obviously, Mexico is not as developed as Britain is. Like most nations transitioning from underdevelopment to greater development, Mexico suffers from substantial class and regional inequality.
But it doesn't change the basic reality of Mexico’s relative strength.
Mexico Has One of the Leading Economies in the World
While it is true that organized crime exists in Mexico and that many Mexicans want to immigrate to the US, a roughly equal number are leaving the US and returning to Mexico… drawn by economic opportunities in their home country.
The largest auto plant in the Western Hemisphere is in Mexico, and Bombardier builds major components for aircraft there. Mexico has many problems, of course, but so does the U.K. (the 10th-largest economy) and Italy (12th).