Monday, November 17, 2008

Mexico at the G-20

Writing before the G-20 summit, Emilio Rabasa discussed how Mexico could be in a unique position to contribute to resolving the current crisis:
Mexico should bring in its briefcase of proposals the economic philosophy of a country that didn't provoke these crises, but that is suffering from its indirect effects (for example, the fall of remittances coming from Mexicans working in the North). A country that has suffered from the same sickness that generated this crisis: the irresponsible governmental tolerance for cheap access to credit without effective guarantees (with Salinas), and that, therefore, now knows the measures to prevent it, such as proper regulatory control that avoids a capital free-for-all. 
Excelsior also reports that Mexico used the occasion to build more communication with the still-unformed Obama administration. 

After the fact, the prevailing opinion seems to be that Calderón added little valuable to the event, and despite both sides making the right sounds, it seems less than likely that Mexico will occupy a healthy part of Obama's foreign policy attention. (That's not necessarily a criticism, merely a fact.)

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