Mexico's Covid Codependency
Bloomberg Businessweek|March 15, 2021
U.S. stimulus flows to Mexico in the form of remittances and increased export demand
Max de Haldevang

Trucks line up at the U.S. border crossing in Nuevo Laredo, Mexico

Andrés Manuel López Obrador came to power promising to make Mexico’s economy less dependent on its giant northern neighbor. His pandemic policies are having the opposite effect.

The Mexican president has run one of the world’s most austere budgets through the Covid-19 crisis, declining to borrow extra money as the economy slumped. The stimulus that prevented an even deeper recession, and is set to drive a rebound this year, is coming from the U.S. instead.

Mexico has benefited in two pivotal ways from U.S. pandemic spending, which is set to exceed $5 trillion with the Biden administration’s bill. Remittances surged to an all-time high as Mexicans authorized to work in the U.S. received stimulus checks and sent some of the money home. Exports also hit a record, because Mexican factories make a lot of the things Americans wanted to buy in the era of lockdowns and working from home—such as televisions and computer gear.

Continue reading your story on the app

Continue reading your story in the magazine

MORE STORIES FROM BLOOMBERG BUSINESSWEEKView All

Is the Future Of the Internet In This Van?

Tarana takes a $300 million shot at providing wireless internet that can rival fiber-based networks

4 mins read
Bloomberg Businessweek
May 17, 2021

THE DOGESTOCK GENERATION

Get-rich-quick trading is partly about entertainment, but it’s having a very real impact on markets

4 mins read
Bloomberg Businessweek
May 17, 2021

Private Equity Wants You

Managers of buyout funds are looking for more money from individual savers

4 mins read
Bloomberg Businessweek
May 17, 2021

The Chip King Faces The Crunch

TSMC has mastered the business of semiconductors, but staying on top of the politics is only getting trickier

5 mins read
Bloomberg Businessweek
May 17, 2021

Too Cool for School

Making enemies of the wrong parents has been hazardous to Juul’s health

10+ mins read
Bloomberg Businessweek
May 17, 2021

For Crypto, The Price of Success May Be Regulation

Governments could finally target the anonymity that makes Bitcoin a haven for hackers

4 mins read
Bloomberg Businessweek
May 17, 2021

Decoding the Price Signals

What’s real, what’s transitory, what’s base-effect distortion? Let’s cut through the noise

5 mins read
Bloomberg Businessweek
May 17, 2021

India thought it had the virus beat. The virus had other ideas

Governments around the world keep repeating the same mistakes. In a country of 1.4 billion, the consequences are on a whole new scale

10+ mins read
Bloomberg Businessweek
May 17, 2021

China's Next Export: Inflation

With prices rising at the factory gate, consumers abroad may wind up paying more

3 mins read
Bloomberg Businessweek
May 17, 2021

Hype Man

Chamath Palihapitiya—tech billionaire, Golden State Warriors co-owner, and all-around meme lord—has a sure-thing, 100%-can’tmiss investment for you that will definitely, absolutely pay off for him

10+ mins read
Bloomberg Businessweek
May 17, 2021
RELATED STORIES

GETTING TO KNOW CHEF FRANCISCO ALEJANDRI VAZQUEZ

He left behind the kitchens of some of the best hotels in Mexico and journeyed to Canada. Founder of acclaimed Toronto restaurant Agave y Aguacate (now closed, as he recently moved back to Mexico), he sat down with us to talk about his journey.

2 mins read
Clean Eating
Spring 2021

TRIED AND TESTED HOTEL: ME Cabo, Cabo San Lucas, Mexico

BEST FOR World-famous views of El Arco with a beautiful stretch of beach and oceanfront pool

2 mins read
Business Traveler
April/May 2021

LESSONS FROM LUIS THE MONEY LAUNDERER

What drives one to cross continents the hard way? Is this what Overlanding is about? That persistent feeling that we'll never be caught if nothing can catch us? The optimist in me sure hoped that was the case. And after riding a battered old KLR650 35,000km from Canada to the southern tip of South America I'm still unsure what the purpose or motivation was. Worthwhile? Absolutely. Why? No idea.

4 mins read
Adventure Motorcycle (ADVMoto)
January - February 2021

What to Expect If You're Flying in 2021

Policies enacted by the airlines in 2020 may change air travel for the long haul.

3 mins read
Kiplinger's Personal Finance
March 2021

BEACH BOD: SECURED!

La Bella Vita

1 min read
Star
January 25, 2021

Ana Leovy – Confetti in Cancún

Ana Leovy’s glass is half full, effervescent with bubbles, ready to toast the day and share the good news. Maybe on a solo stroll, maybe with friends and neighbors, the message is clear in her ripe gouache and acrylic pictures. Follow the light like a sunflower, lounge proud with purpose. A tropical storm delayed our conversation, but didn’t dampen her spirits.

8 mins read
JUXTAPOZ
Winter 2021

Short hikes on the long PCT

Other than some extreme sports, one of the most agreed-upon measures of athletic physical endurance is hiking the Pacific Crest Trail.

1 min read
The Good Life
December 2020

Night Sky

Spend evenings under the stars in San Miguel de Allende.

2 mins read
Global Traveler
November 2020

FARTHER, FASTER

Installing ICON’s Stage 4 suspension system on a ’13 Ford SVT Raptor

2 mins read
Four Wheeler
December 2020

Secluded Stays

From mountain refuges to nature reserves, island hideaways to tropical rainforests, these sublime secluded places offer the perfect escape from the modern world.

5 mins read
RETREAT Magazine
Issue 19