With regard to strengths and weaknesses, Mexico stands out. The good news is that during the last two decades, Mexico moved from one of the least to one of the most open economies in the world. In the trade openness area, Mexico ranks 17th , just below the U.K. and above France and the United States. Today, international trade is 64 percent of the Mexican economy, up from 23 percent in 1985. The bad news is that Mexico still has a long way to go before it qualifies as a liberal economy.
Prosperity depends on getting the institutional and policy environment right.
Nations that adopt policies inconsistent with economic freedom will stifle innovation and drive potential investors to more favorable environments. Their economies will stagnate and their citizens will continue in poverty.