Issues in International Political Economy: The Leader of the Free World

The United States often describes itself as the “leader of the free world.” We certainly are right now—leading the world economy down. Because it is hard to grasp the enormity of the global damage, I will focus on Mexico, a country important to the United States. Mexico is fortunate that it entered 2008 in good financial shape because the fallout from what happened in the U.S. economy might otherwise have been worse. Given that the economic and financial problems Mexico faces this time are not of its own making, it is proper to ask what the United States is doing to help its neighbor.

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