February 16, 2010

We need more solidarity among the free.

Sir Gideon Rachman rightly calls China´s manufacturing sector a headache to Mexico naming it as one of the reasons “Why Mexico is the missing Bric”, February 16. But to then jump to the conclusion of Mexico´s “economic underperformance” hides the fact that China´s competitiveness is not exclusively based on economic performance but on foreign exchange manipulations. For a still so much communistic country like China it is much easier to keep their currency artificially low than for a country like Mexico that, no matter their Carlos Slim, is an immensely freer country.

The free countries need to show more solidarity among them in order to defend themselves from the not so free.