"world capital markets will probably be on his side."
What Fox has is the military -- for the moment -- and a lot of foreign corporations. What he needs is the entrenched bureaucracy, the federales, the Congress, state and municipal governments, the judiciary, the drug cartels, the Zapatistas, university students, the intelligensia, and the Church. Uproot and reform all that in 5 years while cutting back on already minimal support of the poor? Not likely, and certainly not without major pay-offs, bribery, blackmail, murder, and who-knows-what-else all of which, I am predicting, will corrupt the Fox administration even more easily than so many of its predecessors.
Mexican stocks will do well for a time, but don't put them away in a time-locked time capsule. |
