The Immense Value of North America
The integration that the U.S., Mexico and Canada have achieved is a success story worth celebrating.
This article is adapted from AQ’s special report on Mexico’s path forward In August 1982, when Mexico announced that it could not pay its debts, the U.S. government, acting through the New York Federal Reserve and the U.S. Treasury, raced to both support the country and contain the resulting damage to the global banking system. Thus began a long, often arduous process of trying to support Mexico—and integrate it more with the United States. Throughout the 1980s and early ’90s the U.S. supported Mexico in its economic liberalization plan, its debt restructuring, the creation of...
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