New president plots a course of economic suicide
(Asia Times staff)
One of the 14 largest economies in the world decided to commit economic suicide by electing a dangerous populist demagogue as its new president, who, even before formally becoming the country’s chief executive on December 1, for a six-year constitutional term has made highly expensive policy mistakes.
The absurdly long transition period between election and inauguration – five months – has been marked by the virtual vanishing of the sitting administration of Enrique Peña Nieto and the hyper-activism of the elected president, Andrés Manuel López Obrador – known for his initials as AMLO, who has gone into a rampage of proclamations on what his government’s policies and actions will be, most of them based on “popular referenda†so skewed towards his preferences they are a sham disguised as direct popular democracy.
Mr López has also announced that he will withdraw from the “neo-liberal†market-oriented reforms started three decades ago, which have seen the country keep a steady rate of growth over the last decade, despite external shocks and challenges. Indeed, the recent important reforms in the energy sector and education had been seen as reasons to anticipate a much better economic future.
Read more at: http://www.atimes.com/article/new-president-plots-a-course-of-economic-suicide/
A pretty interesting analysis from Asian Times, just what we need, a downturn in Mexico's economy!
