Mexico eyes Asia as US economy falters

“Asia, it’s a region with a lot of consumers and where the spending power of the market has grown and improved. This is an opportunity for the Mexican presence,” Pena Nieto told Mexican newspaper El Financiero on Monday, Reuter reported.

He said Mexico, Latin America’s second biggest economy, has to reduce its dependence on the United States, the destination for nearly 80 percent of its exports.

Pena Nieto, a member of the centrist Institutional Revolutionary Party (PRI), takes office on December 1.

“We have to take advantage of the United States’ geographical proximity, but if the economic situation there does not improve, Mexico is obliged to look for other markets to strengthen growth,” he said.

US Federal Reserve Chief Ben Bernanke warned recently that the world’s biggest economy would face another recession.

He added that Europe’s debt crisis and US fiscal policy created obstacles in the path to the recovery of his country’s ailing economy.

A recent survey by the National Federation of Independent Business (NFIB) showed that small business owners in the US are worried about the status of the economy.

KA/JR

Views: 0

You can skip to the end and leave a response. Pinging is currently not allowed.

Leave a Reply

Powered by WordPress | Designed by: Premium WordPress Themes | Thanks to Themes Gallery, Bromoney and Wordpress Themes