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The most important difference between both countries by 1846 was population. Mexico had 7 million inhabitants, while the United States boasted a population of 17 million at the time -- this is the main reason the U.S. won the Mexican-American War (1846-1848).
In economic and military terms, Mexico was in a relatively better shape, as it relied on European machinery and weapons, mostly of British and French origin. In social terms, Mexico was also more advanced than the United States, as it already had banned slavery since the 1830's.
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