In this Assignment u just need to done these two parts, which are Brief trade history of the country/economic trade zone and Country’s connectivity with freight corridors and logistics hubs.The selected country is Mexico, as this is an global trade assignment, just need to write about the trade, no country background.
Global Trade Assignment
Brief trade history of the Mexico:
In the time of globalization and innovation, trade policy of a country plays an important role in the overall growth of the country because it determines how much country is open to as well have interconnection with the rest of the world. More the country is liberal in its approach and is free for trade, better the speed at which innovation around the world reaches in the country.
Mexico is strategically located in the bottom of North America has interesting trade history, post as well as pre-liberalization. Villarreal (2013) states that Mexico, since 1930, had maintained a strong protectionist policy in effort to be independent of any foreign power and as a mean to promote domestic-led industrialization.
As mentioned by Roberts (2001), President José López-Portillo (1976-1982) had initiated attempts to liberalize a country’s trade in 1976, but disequilibrium in balance of payment, too many influential people benefiting government revenue opposed the idea and hence president left the idea of liberalization. But in 1982, Mexico economy was on the verge of collapse, due to debt crisis in which Mexico government was finding it extremely difficult to maintain the foreign debt requirements, which lead to opening an economy by loosing up of import restriction. In the same time, it also signed a bi-lateral trade agreement with US to elimination of export subsidy.