Why you must understand Mexican politics
The ultimate guide for global investors, policymakers, academics, entrepreneurs, and general Mexiphiles looking to truly see what's happening in Mexico.
In the age of paper, my father would roll down his car window, hand over $10 pesos to a man in a jumpsuit, and chuck a hefty newspaper on my lap. I remember trying to read the day’s most important news.
It was impenetrable.
Years have passed, little has changed. in Mexico, experts, lawyers, and journalists still take a sinister pride in being incomprehensible. Insider baseball is the name of the game and if you’re not head-over-heels deep, you’re not allowed to follow the news. The worst part is that Mexico has a hefty cohort of very talented journalists — the problem is that they’re just talking amongst themselves. They deploy impregnable initials, they start half way through the story, and, ultimately, they miss out on thousands of potential readers.
That may have been OK when Mexico was a closed economy (it wasn’t OK, but let’s say it was, for the sake of argument). Mexico today is one of the world's most promising emerging economies. We haven’t even seen the full effect of nearshoring, the country’s finally in a position to cash in on its demographic dividend, its macroeconomic indicators are sound, stable, and ready to go. These metrics can and are all measured by the serious folk in the data-driven pseudo-sciences (said with the respect and appreciation that I have for my economist colleagues). What’s missing is a proper understanding of how a “softer” side is driving or stalling Mexico’s economic transformation.
Mexico’s political economy could not be more crucial today, as thousands of business people and billions of dollars turn their attention toward the country.
The world is keen to understand but no one is putting the right effort into explaining its ins, outs, and complexities in a clear and concise manner.
Beyond local outlets, international media’s performance has been mixed. Serious news has moved on from the ridiculousness of “Cartels, cocaine, Cancún”, but the truth is (and our team can speak from experience) the world doesn’t care much for Mexico or Latin America beyond the usual tropes. Narcos and misunderstood high-level politics dominate coverage, often to the detriment of their readers.
Is Mexico’s president a rabid left-winger, a social conservative, a rampant populist or a fiscally sound-ish penny pincher? The answer, as in all fascinating and multi-layered tales, is: all of the above. Why he is this way and how his behaviour affects the country’s broader political life is virtually a matter of life or death for business.
Similarly, look beyond the strongman interpretation of Mexican politics—as many global outlets have been unable to do—and you come across the myriad opportunities and pitfalls offered up by a thriving, rambunctious, and unstable democracy. It is far from perfect, but to underestimate it is to miss out —or worse— to put oneself at risk.
This newsletter delves into all these layers; speaks to the powerful movers and shakers; gives a frank and clear cut insight into what on Earth is really happening in Mexican politics while looking into crucial factors that global readers may not have even known about.
So far, we’ve delved into matters as important and varied as:
And much more…
Subscribe and delve into the ultimate guide to understand Mexican politics without the politicking.