Skip to main content

ms7048.jpg Margaret Scott

A Tale of Two Countries

Barely two years ago, Brazil’s rapid economic growth and expanding middle class made it the darling of the financial markets, whereas Mexico was better known for drug gangs and violence. But now Brazil has become the star that disappoints, while Mexico is the underperformer that suddenly shines.

SANTIAGO – Barely two years ago, Brazil’s rapid economic growth and expanding middle class made it the darling of financial markets, whereas Mexico was better known for drug gangs and violence. With slow growth and stalled economic reforms, financial markets were about to write off Mexico as a lost cause.

How quickly countries’ reputations can change. Today, the Brazilian economy is stagnating, and no amount of infrastructure investment for the World Cup and the Olympics seems able to pull it out of its rut. Mexico’s economy, by contrast, is expanding at a steady clip, pushed along by a recent boom in industrial exports to the United States.

So Brazil has become the star that disappoints, while Mexico is the underperformer that suddenly shines. What is going on?

We hope you're enjoying Project Syndicate.

To continue reading, subscribe now.

Subscribe

Get unlimited access to PS premium content, including in-depth commentaries, book reviews, exclusive interviews, On Point, the Big Picture, the PS Archive, and our annual year-ahead magazine.

https://prosyn.org/2qWTufX;
  1. bildt69_DELIL SOULEIMANAFP via Getty Images_syriansoldiermissilegun Delil Souleiman/AFP/Getty Images

    Time to Bite the Bullet in Syria

    Carl Bildt

    US President Donald Trump's impulsive decision to pull American troops out of northern Syria and allow Turkey to launch a military campaign against the Kurds there has proved utterly disastrous. But a crisis was already inevitable, given the realities on the ground and the absence of a coherent US or Western policy in Syria.

    2

Cookies and Privacy

We use cookies to improve your experience on our website. To find out more, read our updated Cookie policy, Privacy policy and Terms & Conditions