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Old 07-01-2014, 01:03 AM   #25
24champ
Bring back Kubiak!
 
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Keep Calm and Chive on

Join Date: Aug 2005
Location: Southern California
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Quote:
Originally Posted by Rohirrim View Post
Mexico is one of the most corrupt countries in the world. It also is number two on the list of most economically unequal. If Bubba thought that was going to change just because he sat down and had a heart to heart with Gortari, then he should return the money for that Rhodes scholarship.
Agreed with all that but to my earlier point, the stream of illegal immigrants to California started way back in the 1940s, even earlier, under a work program. NAFTA played a small role in the increase of people coming over the border. What caused Mexico's economy to plunge was currency manipulation and massive debt, which have nothing to do with NAFTA.


http://www.cid.harvard.edu/Economia/GEsquivel.pdf

Quote:
The first year of the post-NAFTA period was characterized by a severe macroeconomic crisis that began in December of 1994. In that month, Mexico experienced a large devaluation and it was closed to incur in a financial default. The fiscal and macroeconomic adjustment of 1995, led to a sharp and steep decline in economic activity during 1995 (a contraction of 8% in per capita GDP). Later on, from 1995 to 2000, the domestic economy recovered relatively fast mainly based on an important increase in Mexican exports to the U.S. market. Between 1995 and 2000 Mexico’s per capita GDP grew at a rate of 4% per year.
People have been coming through from Mexico for many years, and increasingly so since President Reagan and a Democrat congress agreed on amnesty.
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