Mexico is no longer amongst the top 10 most important countries for business growth due to populism and economic uncertainty.
Mexico City (Milenio) – According to the annual survey of the PwC consulting firm, the main cause of Mexico’s decline in the ranking is populism and economic uncertainty. These two issues got Mexico out of the top 10 countries that global companies consider most important for the overall growth of their organization.
For this year the most important countries for the growth of companies are:
- The United States with 30 percent
- China, 29 per cent
- Germany, 13 per cent
- India, United Kingdom and Australia, with 9 percent each
- Japan and France, with 6 per cent each
- Brazil, with 5 percent, and Canada, with 4 percent.
“Business leaders in Asia and the Pacific still see trade conflicts as the main threat; while in Latin America, Africa and the Middle East, the main challenges remain populism, political uncertainty and geopolitical uncertainty, respectively,” the survey revealed due to the growing wave of uncertainty that is hitting Mexico.
To the specific question of “how concerned, if at all, you are about each of these potential threats to your organization’s growth prospects”, the CEOs consulted said that in the case of Mexico the main concern are populism and political uncertainty and 67 percent of the CEO’s interviewed, agree with the International Monetary Fund’s forecast that reduces its economic growth expectation for Mexico in 2020.
Not only in Mexico but in Latin American countries, the survey showed political uncertainty and populism as the two predominant factors.
Experts consider that Mexico is going into a tailspin under the López Obrador government.
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