The coincidence of the economic cycles of the United States and Mexico shouldn't be surprising, given their strong links. The surprise from anecdotal observation is that the Mexican recession might be less deep than what the United States will experience. A great part of this is the greater competitiveness of industry, the [government's] counter-cyclical policies, and the greater importance of internal demand. These characteristics suggest that the recession could last less time and perhaps the rebound will be quicker. What we can say is that this time the response from the authorities has been much more proactive...
I don't read Thorne's column every issue but I've read it a fair amount, and I don't remember thinking of him as a huge Calderón fan or a great optimist.
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