4661418R-International Trade

4661418R-International Trade - International Trade Running...

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International Trade 1 Running head: INTERNATIONAL TRADE International Trade [Author’s Name] [Institution’s Name]
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International Trade 2 International Trade Mexico is also integrated into the U.S. economy but less so than Canada because of Mexico's lesser degree of economic development. About the same percentage of Mexico's merchandise automotive exports is sent to the United States as Canada's. The duty-free portion of U.S. automotive imports from Mexico is lower than Canada's but was more than 50 percent of total U.S. automotive imports from Mexico in 1979. Mexico had no controls on capital movements before August 1982 and found after the imposition of these controls that it could not effectively contain capital flows because of the ease of movement across the common border. The dollar is often substituted for the peso in Mexico, and the formal reports of the Bank of Mexico used to cover the banking system's participation in the economy in both national money and in dollars. 1 Globalization of the U.S. and Mexican economies is a fact. Although it is still an asymmetrical globalization in which Mexico depends more on the United States than the reverse, U.S. dependency is growing more rapidly than is Mexico's. This is happening not only because of the oil trade but also because of the growing relative importance of the Mexican market as a proportion of the total U.S. export market. It may be that this globalization is the least
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