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Context of '1990-1993: Massive Capital Inflows Boost Mexican Economy'

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Around $91 billion flows into the Mexican economy from foreign investors, allowing for a certain degree of economic growth. This growth slows down in 1992, however, as trade and current account deficits increase sharply. The deficits suggest a large deterioration in the country’s economic base during the 1980s. [Hart-Landsberg, 12/2002]

Entity Tags: Mexico

Timeline Tags: Neoliberalism and Globalization

In preparation for the North American Free Trade Agreement (NAFTA), Mexico opens up its financial services to foreign ownership. By 2000, 85 percent of the banking system will be owned by foreign entities and lending to Mexican businesses will have dropped from 10 percent of the GDP to 0.3 percent. [Jones, 3/2007, pp. 3]

Entity Tags: Mexico

Timeline Tags: Neoliberalism and Globalization

1998: Mexico Bans GM Crops

Mexico bans the planting of genetically modified crops. [Mother Jones, 7/9/2002]

Entity Tags: Mexico

Timeline Tags: Seeds

The Mexican government, after weeks of negotiation with protesting farmers (see January 30, 2003), signs the National Rural Accord (also known as the National Agreement for the Countryside and the Development of Rural Society). The accord announces that the government will make “sweeping changes to rural infrastructure and state farm policy to modernize Mexico’s outdated agricultural system.” As part of the agreement, Mexico will also ask the US and Canada to allow for protection of Mexico’s rural economy, and review the possibility of implementing mechanisms against dumping and unfair competition. [Reuters, 4/28/2003; Fanjul and Fraser, 8/2003, pp. 23 pdf file]

Entity Tags: North American Free Trade Agreement

Timeline Tags: Neoliberalism and Globalization

In response to a suggestion by Mexico that it will put tariffs on corn to protect domestic farmers from subsidized US corn (see April 28, 2003), the Chairman of the US Senate Committee on Finance, Charles Grassley, writes a letter to Mexican officials stating: “Mexico has recently undertaken a number of actions against US agricultural products that undermine the spirit, if not the law, of NAFTA. Mexico’s continued pattern of not meeting its international trade negotiations is unacceptable.” [Fanjul and Fraser, 8/2003, pp. 23 pdf file]

Entity Tags: Charles Grassley, North American Free Trade Agreement

Timeline Tags: Neoliberalism and Globalization

New Mexico Governor Bill Richardson will later report that this evening, New Mexico’s Urban Search and Rescue Team leaves for Baton Rouge, where they will receive specific instructions on deployment. He also orders 200 members of the New Mexico National Guard to leave immediately. [New Mexico, 8/30/2005; Newsweek, 9/14/2005] New Mexico’s National Guard will be held in New Mexico, however, until they receive the required mission assignment from the Pentagon late Thursday, September 1 .

Entity Tags: Bill Richardson, New Mexico National Guard

Timeline Tags: Hurricane Katrina

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