Is Mexico another BRIC? The successes and pathologies of a rising power

Mexico is a rising star among emerging economies. Its macroeconomic performance, deep links to global markets, and participation in key global governance organisations such as the G20, have analysts comparing it to the BRICS. On many measures Mexico has performed well, based on a post-crisis decision in the 1980s to open its economy to the world. However, look inside and the picture is mixed at best. Two chronic and deeply problematic issues are high poverty and inequality rates on the one hand, and poor governance on the other. Corruption, impunity, weaknesses in the criminal justice system, marginalization, and informality in the economy combine to retard progress for this potential ‘new BRIC.’