Large U.S. companies already are making moves in Mexico. McDonald's is opening more outlets in Mexico. Those consumer companies see real wages rising and Mexican consumers able to spend a little extra for the first time in years. Looking forward, U.S. chemical and oil companies are studying joint ventures with Mexico's state-owned oil complex in anticipation of more friendly rules about foreign investment. That's 36 percent of the U.S. population but less than 5 percent of its economic output.
Small firms form backbone Mexico lacks capital.
But for those investments, the outlook is not as rosy. Rhoads, owner of an investment firm, is leading an official Council for the Development of Stock Exchanges, trying to raise equity for Mexican companies. So far, that kind of investment is not coming in great amounts, either from foreign or Mexican investors. The money is waiting to see whether Fox can change Mexico's tax system to give the Mexican government the finances of a modern nation, and the country's legal system, which is essential for foreign investors to feel secure. Such processes will take years, but big investors want to see Fox's government achieve some victories for his program in the Mexican Congress.