Discuss whether Mexico has the potential to become a future global Essay

Discuss whether Mexico has the potential to become a future world-wide economical power - rise ExampleIn order for the country to achieve such, it requires an appropriate management of its various economic sectors with the view of limiting the various economic threats that have menace countrys economy in the past. The expansion of the various economic sectors will likely improve the countrys economic potential by increasing the employment rate of the economy thus facilitating an expansion of the economy (Boyes & Michael, 2012). The discussion below portrays some of the major economic features and an cipher discussion of the original economic state of the country thus developing the growth potential the economy have it aways. Current economic characteristics of the country The Mexican economy has various spirited sectors all of which sustain the countrys economy. All of the sectors present a potential for expansion thus promising the growth of the economy into a global economi c power. Among the nearly vibrant sectors in the economy are tourism, communication and transportation (Fox, 2002). Transportation sustains the economic growth in any country. With this knowledge, the successive Mexican governments have often invested in the development and expansion of the countrys transport system. The country has long road network that links nearly every(prenominal) part of the country. With an effective road network that joins every part of the country, the economy knows faster transportation of both goods and passengers throughout the different cities deep down the country. Besides the elaborate roads network, the country has a complementary rail network which also facilitates the faster transportation of goods. The development of the electric rail system has further amend the efficiency in the transportation sector, as goods currently take shorter to reach their destinations (Kates, 2007). The country also has various airports and airstrips all of which f acilitate the faster transportation of products within the country. The capital city known as Mexico City has two international airports, which act as the entry points into the country. Through the two facilities, the country maintains an active economic interaction with other countries globally as the two facilitate the transportation of goods in and out of the country (Aaker & Aaker, 2010). The effective and efficient transportation network has attracted hundreds of investors who enjoy the seamless transportation of both goods and humans to every part of the country. Another great factor that has attracted more multinationals into the country is the cheaper labor and electricity equals. The low cost of the two makes the country favorable for setting up companies. Various companies have therefore set up their manufacturing plants in the country (Tabbush, 2011). The fact that the country competes with the likes of mainland China in labor and electricity costs makes it a favorable d estination to most of the American multinational companies seeking cheap labor. This way, the country has continuously enjoy infrastructural development and an increasing employment opportunities as the companies provide ready employment. Tourism is the countrys main foreign exchange earner. With such a vibrant tourism industry, the country enjoys sustained influx of foreign currency and an equally large employment opportunity. The world tourism organization rated Mexico as the second most visited country in the world in 2001 coming second to the United States (Cavanagh, 2002). The country has