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When President Carlos Salinas de Gortari was elected in 1988, he began a process of privatization of most government industries and businesses. This is known as the Rise of Neoliberalism in Mexico, which reached its highest point with the signature and later adoption of the North American Free Trade Agreement or NAFTAwith Canada and the United States (1994). He also cut back on military spending.

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9y ago
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Zariah Lynn

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3y ago
Cutting back on military spend
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9y ago

When President Carlos Salinas de Gortari was elected in 1988, he began a process of privatization of most government industries and businesses. This is known as the Rise of Neoliberalism in Mexico, which reached its highest point with the signature and later adoption of the North American Free Trade Agreement or NAFTA with Canada and the United States (1994). This, however didn't shield the economy enough from internal or external shocks: on the same year, the Chiapas Zapatista Uprising led by SubcomandanteMarcos (1994), the assassination of Presidential candidate Luis Donaldo Colosio and a continuing decrease on foreign reserves triggered the 1994 economic crisis in Mexico, known as the December Mistake (Spanish: Error de Diciembre).

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7y ago

Privatize most government-owned businesses, thus starting the Rise of Neoliberalism in Mexico.

When President Carlos Salinas de Gortari was elected in 1988, he began a process of privatization of most government industries and businesses. This is known as the Rise of Neoliberalism in Mexico, which reached its highest point with the signature and later adoption of the North American Free Trade Agreement or NAFTA with Canada and the United States (1994). This, however didn't shield the economy enough from internal or external shocks: on the same year, the Chiapas Zapatista Uprising led by Subcomandante Marcos (1994), the assassination of Presidential candidate Luis Donaldo Colosio and a continuing decrease on foreign reserves triggered the 1994 economic crisis in Mexico, known as theDecember Mistake (Spanish: Error de Diciembre). This in turn promoted a general dissatisfaction with the ruling party (PRI), which had governed Mexico uncontested for the previous 70 years. On the Presidential Elections of the year 2000, the PRI hegemony was abruptly ended, when PAN candidate Vicente Fox became the indisputable winner of such elections.

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11y ago

reduce its natons debt

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8y ago

reduce its national debt

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Q: Making reforms in 1980 Mexico was able to what?
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By making reforms in the 1980s Mexico was able to .?

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