The good news: 2020 is about to end. The not-so-good: 2021 will bring significant challenges for the Mexican economy, as the recovery still needs to be strengthened.
As we all strive to flatten the epidemiological curve for COVID-19, the opposite of a “flattening” could happen in the post-pandemic global economy. This situation has caused anguish in China, the biggest beneficiary of globalization and a "flat" borderless economy that Thomas Friedman described in his book "The World is Flat".
As recently as 2010, the United States and China were on the same level when it comes to manufacturing, but China quickly surpassed it. The Asian country now uses a workforce of about 130 million items to export products worth close to $ 2 billion.
As the global reach of Chinese manufacturing expanded, so did its dreams of being a world power - a trajectory that has not been without friction. This is demonstrated by the recent tariff war between China and the United States.
Mexico will have to strive to facilitate business activities, eradicate corruption, develop a strong middle class, and invest in the necessary infrastructure, just as China did.
The COVID-19 pandemic is just the beginning, there is no doubt that there will be similar challenges in the future. This moment has forced us to reconsider the economic project of the region, which may constitute a protection against natural or economic catastrophes. The situation took us by surprise once, it cannot surprise us again.