MEXICO SOLIDARITY NETWORK
WEEKLY NEWS AND ANALYSIS
12/26/2011 - 1/1/2012
More than half of Mexico's population now lives below the official poverty line, in large part because the economy is so tightly linked to the United States. About one-third of Mexico's production is exported, with 90% headed to the US. Mexico boasts the world's richest man, Carlos Slim, worth about US$74 billion, or about 7% of the annual GNP, while 58 million Mexicans live on less than US$150 per month. Economic growth under Felipe Calderon has averaged 2.2% annually, about half the overall rate for the rest of Latin America and the Caribbean. Despite the dismal figures, Calderon continues to bank on his expensive and largely ineffective "war on drugs" as the foundation of his political program.
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