September 1, 2002
President Fox's inaugural promise of a "new reality"
for Mexico remains elusive.
Mexico's President Vicente Fox took office a year and nine months ago, promising great change after ending 71 years of rule by the Institutional Revolutionary Party (PRI). "There is a new reality of power in Mexico and a new era of democratization and expectations of change," Fox declared in his December 2000 inauguration speech. "We will not let you down." He is almost a third of the way through his six-year term, but his ambitious plans for laying the foundations of a modern, developed economy have come to little so
President Vicente Fox has been unable to overcome the
political obstacles to many of his vaunted reform plans. Still,Mexico has largely avoided South America's malaise and remains a regional economic powerhouse.