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No. Size of population doesn't correlate with level of development. For example, India is a country with almost 11 times the size of Mexico's population, and it is in much worse shape - i.e.: less development - than Mexico. On the other hand, Japan which is the third largest economy in the world, is a bit more populated than Mexico but has one of the highest living standards in the world.

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Q: Does Mexico's population contribute to Mexico's level of development?
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