Mexico Comes Out on Top
Brazil is not the largest economy in Latin America any more.
Mexico has overtaken Brazil this year, with GDP rising to
$615.3 billion. Mexico's economy has grown steadily every year
1995, when it overcome the peso crisis. The country's GDP has
doubled since then in dollar terms. A strong oil price,
membership in Nafta and prudent government economic policies
have made the Mexican peso one of the best-performing
currencies in the world. Although Mexico is in recession now,
the super peso has inflated its GDP when measured in dollars.
Paradoxically, Brazil is still growing, yet its dollar GDP is
set for a 12% decline to $523.6 billion this year. Economists
forecast expansion of about 2%-2.5% this year. A weak real is
depressing its GDP in dollar terms.
The Economist magazine has pioneered the use of the price of
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