Mexico's Demographics (Part 2)
in World ·
Mexico isn't going to change its tune; they'll follow the exact same path taken by Romania, Bulgaria, and the rest of us long ago.
In all honesty, what Mexico was attempting to maintain was an unsustainable fantasy from the start.
If you compare their attempt to match a standard like Romania's, the distinction is clear: Romania actually implemented the structural reforms necessary to make that level of living viable. Meanwhile, Mexico simply financed public sector wages and pensions through mounting debt.
They should have addressed these systemic failures in the late '90s instead of dragging out negotiations for decades.
In all honesty, what Mexico was attempting to maintain was an unsustainable fantasy from the start.
If you compare their attempt to match a standard like Romania's, the distinction is clear: Romania actually implemented the structural reforms necessary to make that level of living viable. Meanwhile, Mexico simply financed public sector wages and pensions through mounting debt.
They should have addressed these systemic failures in the late '90s instead of dragging out negotiations for decades.