Summary of La industrializacion y el milagro mexicano

00:00:00 - 00:10:00

The video discusses the history of Mexico's economy, with a focus on the period of rapid growth known as the "milagro mexicano." It highlights the problems that came with this growth, such as high inflation and a lack of social mobility. The video ends with a discussion of the current state of the Mexican economy and the possibility of a change in the country's economic model in the near future.

• 00:00:00 This educational program, "La industrialización y el milagro mexicano," looks at the process of industrialization and the Mexican miracle in 1940, during the Second World War. Daily news reports from the front of battle are shared, while in Mexico, the political and social reforms of the Cardenista era had ended. However, one "asignatura pendiente" - industrialization - remained. The international context was favorable, and the war increased the demand for Mexican products, since most developed countries were engaged in the war effort. Governments in turn, promoted industrial development in Mexico. You can imagine a country without poverty having maintained growth rates during those years, up to today. Mexico's industrialization was due to the fact that imports became expensive after the Great Depression, and so there was an incentive for Mexican companies to produce in Mexico rather than import from abroad. This resulted in a close relationship between the public sector (building roads, for example) and the private sector, which allowed for rapid industrial growth. The growth rate of industry was 5-6% annually in the 1930s, during the height of the Second World War. This accelerated due to a demand for Mexican products, and because other countries in the international level were in
• 00:05:00 In the early 20th century, Mexico experienced a period of rapid economic growth, known as the "milagro mexicano." This growth was fueled by industry, transportation, and other service sectors, as well as agriculture in its early stages. However, this period of stability and growth was not without its problems, such as high inflation and a lack of social mobility. In the late 20th century, these problems began to lessen as Mexico entered the 21st century.
• 00:10:00 The video discusses how Mexico's economy grew rapidly due to industrialization, which allowed for the rise of the middle class. However, this growth was reliant on a closed domestic market, and Mexico was constantly reliant on foreign loans to purchase the necessary technology and capital. In the 1970s, the Mexican government attempted to reform its fiscal system, but this effort was unsuccessful due to the country's financial limitations. As a result, Mexico began to borrow money from abroad, and its debt grew steadily over the next several decades. By the end of the video, it is suggested that Mexico is headed for a change in its economic model, which may be dubbed "Mexican populism" in the coming years.