Fri | Sep 30, 2022

Will Mexico be the next Venezuela?

Published:Wednesday | June 19, 2019 | 12:43 AM


Mexico elected Andrés Manuel López Obrador on July 1, 2018, and he took office on December 1, 2018. He won by a landslide victory. Additionally, he won by a majority in the Senate and Chambers of deputies. He is a socialist and promised to fight corruption, lessen inequality and help the poor.

Under the proposed new law to cut the highest government salaries and raise the lowest ones, no bureaucrat can earn more than the president. And since Mr López Obrador has set his salary at about $5,350 per month – less than half of former President Enrique Peña Nieto’s salary – that meant sharp cuts in the wages of more than 30,000 public officials.

Pensions slashed

The law also slashed the pensions of the last five presidents.

“We can’t have a rich government and poor people,” Mr López Obrador said. He sold Mexico’s presidential planes and flies economy class.

He plans to nationalise Mexico’s oil. Companies such as BP, Sunoco, Exxon, Chevron and Arco are negatively affected by his nationalistic policies.

When the corporations of Europe and United States lose business (money), US and European governments strike back. Just look at the response to Venezuela’s nationalisation of oil. It costs their corporations billions of US dollars.

The governments of US and Europe responded with economic sanctions. The humanitarian concerns seem to be a cover for their anger over their lost of revenue in Venezuela. Will they take a similar tactic in Mexico?

Pay attention to the threat of tariff by the US president on Mexican goods. He is painting a narrative. The Caribbean and Jamaica need to prepare for an assault on Mexico by US and Europe.

Will Mexico be the next Venezuela?