Mexico's Terrible Year
November 2, 2009 8:51 AM   Subscribe

Mexico’s Año Horrible: Global Crisis Stings Economy. "Until last September, the global economic slump was expected to take a fairly limited toll on the Mexican economy."

"There was even talk of decoupling—that, for once, a U.S. recession would leave Mexico relatively unscathed. Over the past few months, however, this optimism has been replaced by increasingly dire predictions for the country’s near-term economic outlook ... But even this darkest of clouds has a silver lining. Twenty years ago, circumstances such as these almost surely would have caused a financial collapse in Mexico."
posted by elmono (4 comments total) 2 users marked this as a favorite
...all that and no mention that their biggest oil field (Cantarell) looks well past its production peak. Grim stats on Cantarell
posted by H. Roark at 9:52 AM on November 2, 2009

And without the exports of energy to other nation-states - what is Mexico going to do for its cash?

(did you know that Cantarell consumes at last 40% of the Nitrogen Gas produced in North America?)
posted by rough ashlar at 10:30 AM on November 2, 2009

Interesting the article doesn't mention it, but the first three comments were all related to oil revenues (including this one).
posted by bystander at 12:12 PM on November 2, 2009

And now a 4th comment pointing out oil. Or Natural Gas - as it is a 'stranded' resource and is a large part of how the more North part of North America stays warm in the winter.
posted by rough ashlar at 12:33 PM on November 2, 2009

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