.
| Mexico Goes
Global Under NAFTA |
| [Source: Joel
Millman, "The World's New Tiger on the Export Scene Isn't
Asian; It's Mexico," Wall Street Journal, May 9, 2000] |
A decade ago, Mexican businessmen feared they would be crushed by
U.S. competition if the North American Free Trade Agreement were
adopted. Instead, they learned from their American partners and
competitors, alike -- turning themselves into export powerhouses and
disciples of globalization.
- Last year, Mexico climbed to 8th place among the
world's exporters -- from 26th place in 1993.
- Mexican companies now employ about 70,000 overseas
workers in more than two dozen countries, generating about $8 billion
in annual revenue -- the figure for workers rising from just 2,000 in
1990.
- Last year, Mexican manufacturers shipped more than
$120 billion of goods abroad.
- While more than half of the total comes from Mexican
units of U.S. multinationals, about $50 billion comes from home-grown
industry -- five times the 1994 level.
Experts say that NAFTA unleashed Mexico as an exporter and made
Mexico's businessmen more aware of world markets. Those and similar
developments have helped sustain annual economic growth rates of 4
percent in recent years and have added more than a million industrial
jobs to the work force.
For more on NAFTA http://www.ncpa.org/pd/trade/trade6.html
|