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Mexico to Join 10 Largest Economies

Article Summary:

If Mexico maintains its current stability and growth trends it is set to become one of the 10 largest global economies by 2030. Meanwhile, Mexico demonstrates a solid core which makes it attractive in the current cautious economic environment, both economically and politically.

Photo Credit: El Economista Mexico

Original Article Text From El Economista Mexico via Google Translate :

Mexico is an economic Power by 2030: Citi

To maintain economic stability and current growth trends, Mexico will join the 10 largest economies in the world in 2030, Citi found.

This even if not carried out structural reforms potencializarían growth, said Executive Director and Chief Investment Officer of the Department of Wealth Management Latin America from U.S. institution, Renato Grandmont.

In a meeting with media, said that currently Mexico has some very solid core that make it attractive in the current environment of caution and uncertainty, both economically and politically.

In fact, he said, Mexico is in emerging countries will remain the source of global growth during 2012 and 2013, in an environment with tax problems in the United States and recession in the European Union.

According to their growth estimates for 2012, the Gross Domestic Product (GDP) expected at 3.5% Mexican would be above 2.6%, considered for the global economy and 1.0% for industrialized countries.

As for emerging nations have a prospect of economic growth of 5.2%, thanks to the GDP of countries like Brazil, with an expected 8.4%, India, 7.0; Korea, 3.7, Russia and Mexico, 3.5 each and Brazil , 3.3%.

However, the expert warned that still lives in a crisis that will take long and that in the case of the European Union is not expected to be resolved before 2014.

He noted that one can not rule out that other European countries fall into problems and need similar support packages to Greece, such as Portugal and Ireland.

In addition to tensions observed in Spain and Italy, which are in the list of most heavily indebted nations.

Based on the latest reports, he said, after Japan with a debt of 12.6 trillion dollars, with 11.6 trillion U.S. dollars, followed by Italy in third place with liabilities of 2.6 trillion dollars and Spain with $ 1.2 trillion .

In the case of the U.S., said fiscal problems persist, even more so in the face of presidential elections in an environment of lack of agreement on the issue between the Republican and Democratic parties.

He acknowledged that the possibility of increased taxes and thus a slowdown in consumption, could generate some involvement in Mexico.

Link to Original Article:

From El Economista Mexico

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