Summary of Breve HIstoria del Desarrollo Económico de México

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The video "Breve HIstoria del Desarrollo Económico de México" covers the history of the Mexican economy, from the Porfiriato period through to the present day. It discusses the various changes that have taken place, both social and political, that have affected the country's development. It also covers the development of certain industries, such as mining, agriculture, and textile manufacturing.

  • 00:00:00 The Mexican economy has gone through many changes, both social and political, that have affected its development. The history of Mexican exports begins during the Porfiriato, which ended around the turn of the 20th century, and progresses through the development of certain agricultural crops that were exported, such as cotton and sugar cane. The industrial development of Mexico began with mining and, at the same time, the metalworking industry developed with the production of copper and silver. The textile industry was represented during the Cardenista period, ending with the Great Depression, by private national companies foreign to Mexico. During the Lázaro Cárdenas administration, significant changes took place with the agricultural reform, which nationalized the industry of oil and rail transportation. Nationalist development projects were initiated with autonomous government for the former Sonoran state, leading to a stronger industrial development in Mexico during the 1950s, with a majority of small and medium-sized companies. This period is known as the "Stabilization Era" and saw an increase in public loans for private companies to invest in industrial expansion, with positive effects on the Mexican economy, such as low fluctuations in the exchange rate and budget deficits, creating internal and external imbalances. The second phase of the model
  • 00:05:00 Mexico has had a sustained period of economic growth, without inflation, following the same economic policy of previous administrations, with tariff protection and subsidies for Exemptions of taxes, Official Control of Labor Organizations, Labor Markets Liberalization, Price Controls etc. during the period of Luis Echeverría (1970-1976). In the years of 1970 and 1976, the crisis began to be felt, due to all the economic irregularities that had been dragging on for previous administrations, such as a strong public spending financed by an excessive supply of money, external debt, and a strong deficit in payments, creating an unfavorable situation for the economy characterized by a notable growth in inflation, which devalued the peso, increased imports of food, and the external debt grew. In 1977-1982, governed by José López Portillo, the oil boom led to increased expectations for Mexico, which constituted the basis for the country's resurgence with this regained economic confidence, as exports of oil benefited from this. The government then began to expand its fiscal and monetary policies, leading to an increase in inflation rates with trends that were rising, producing a loss of competitiveness with the outside world, which brings about a slowdown in exports and, combined with a worldwide recession, a rise

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