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DragonomicsHow Latin America Is Maximizing (or Missing Out on) China's International Development Strategy$
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Carol Wise

Print publication date: 2020

Print ISBN-13: 9780300224092

Published to Yale Scholarship Online: September 2020

DOI: 10.12987/yale/9780300224092.001.0001

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Ratcheting Down the Industrial Ladder in Mexico

Ratcheting Down the Industrial Ladder in Mexico

(p.191) 6 Ratcheting Down the Industrial Ladder in Mexico

Carol Wise

Yale University Press

This chapter analyses Mexico’s deteriorating economic relationship with China, tracing its reform trajectory from the adoption of NAFTA in the 1990s, to China’s WTO entrance, and to the ways China’s rise is exacerbating tensions between Mexico and the US today. The author argues that Mexico failed to implement public policies and institutional reforms to bolster companies and position them to perform successfully under NAFTA. Instead, elite policymakers chose to rely on a neoliberal hands-off industrial development strategy, effectively kicking away the ladder of state guidance for industrial promotion, reducing such tools as public credit, tax breaks, trade tariffs, and so on. This led to Mexico’s incorporation into China’s internationalized development strategy as an importer of Chinese goods, which has left it with a massive trade deficit with China over the past twenty-five years.

Keywords:   World Trade Organization (WTO), North American Free Trade Agreement (NAFTA), Mexico, China, Anti-dumping, Protectionism, Exports, Industrialization

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