Mexico becoming a tariff free zone like Singapore? Interesting.
I don't know what the Singapore economy is built on. And it seems to be a small, tightly controlled zone. Most likely post NAFTA would look like pre-NAFTA with a lot less trade with the US it the product doesn't rely on supply chains.
http://www.cbc.ca/news/politics/nafta-mexico-trade-election-1.4451904
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I've spent a bunch of time in Singapore. It rose to its current wealth because it was a key port in the Strait of Malacca, which ships going from China to points west pass through. So they have a big harbor, and they refine a lot of oil and pipe it up to Malaysia, Thailand etc. They've been trying to diversify so they are also deep into finance, biotech, etc. They are much better organized and have a more educated population than Mexico.
ReplyDeleteThank you. I thought part of their success might be due to geography.
ReplyDeleteThe good geography is why the British took over this small piece of swampy land at the tip of Malaysia and built a port there. Then lots of Chinese merchants moved there. Then the Malays got jealous and started killing the Chinese, so Singapore became its own country - and thanks in part to the British system of governance, law and education, and the Chinese skill at business, it's thrived ever since! So, geography triggered an chain of events that makes this place very different from nearby places.
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