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The Myth of Middle Class Mexico

A recent opinion piece in Bloomberg makes a concerted effort to paint Mexico as “a moderately prosperous nation,” that “the World Bank calls upper-middle-income.” The thrust of the article is that Trump’s rhetoric on Mexico is wrong, and the country is, in fact, doing pretty alright. While I’m obviously not out to prove Trump right, I do want to correct the record on a few things…

Bloomberg vs. Trump?

Let’s start with the contention that Mexico is “upper middle income.” In 2019 World Bank ranked 60 countries as upper middle income. These are countries where GNI (Gross National Income, formerly known as GDP or Gross Domestic Product) is between $3,996 and $12,375 per capita (all figures in USD unless otherwise noted). According to the World Bank, Mexican workers earned an average of $9,180 a year, which is the equivalent of approximately $15,000 pesos per month. read more