We’re not that bad off…
Although the Peso has been bouncing around a bit (not even in release yet, and already we’re talking about having to change the peso price on my book to reflect the changes), Mexico probably will come though the economic meltdown with less damage than it normally receives when the U.S. economy goes south.
The stock market and peso both shot up today, and it looks as if the obvious solution to Mexico’s largest economic problem (being too dependent on a single foreign customer) is also being slowly dealt with. Reuters, via Forbes
The European Union proposed on Monday establishing a strategic partnership with Mexico to forge closer ties in areas including security, diplomacy, trade, and the environment.
‘The partnership should in particular help both parties strengthen their dialogue and cooperation in international fora on crisis situations and global challenges,’ EU foreign ministers said in a statement.
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The EU is Mexico’s second-largest trading partner after the United States, with bilateral trade of nearly 33 billion euros ($45 billion) in 2007.
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mexfiles.net 