The potential of Mexico
The chart of “How long to be a millionaire” shows that Mexico needs three centuries in order to earn one million dollars, which is three times as much as in the United States (http://tinyurl.com/pqlbyeo). In order to come out with this result, “The Economist looked at how much the main breadwinner in an average household makes each year (before tax)” (http://tinyurl.com/pqlbyeo). However, the current situation of the United States economy and the Mexico economy does not fully certify this result “because of the deteriorations in property rights, fiscal freedom, and business freedom, the United States, with an economic freedom score of 75.5, is the 12th freest economy in the 2014 Index” (http://tinyurl.com/7sdxosm). The chart is misleaing about the facts. The evidence of the U.S.’s “score is half a point lower than last year and the U.S. used to rank the first in North America region” shows that the U.S. will not last their power for the next decades of years. (http://tinyurl.com/7sdxosm). It would be hard for the U.S. continually being the swiftest country to make a million dollars because its economic freedom score has become lower and lower. The facts of “deteriorations in property rights, fiscal freedom, and business freedom” in the U.S. would significantly effect the country’s savings in terms of the lack of freedom because it is hard for people to make a profit without doing the things that they prefer; At the same time, people would pay less tax, which means it would be slower for the U.S. to reserve money(http://tinyurl.com/7sdxosm).
The evidence of the Mexico economy shows that it has the potential to move up the ranks of the chart faster. Mexico has the potential because “Mexico is quickly becoming an emerging market heavy-weight” (http://tinyurl.com/7sdxosm). The data of the GPD of Mexico greatly shows its potential of emerging into a more powerful country: “Mexico’s 2012 GDP growth rate was 3.9%%, faster thanthe U.S. (2.2%)” (http://tinyurl.com/opv79dd). By having a lower GPD in the era of inflation, Mexico has a possibility of reserving more money than the U.S. The increasing prices for the products in every country would be hard for the countries to have a low GPD. In this way, Mexico has a great possibility of becoming the world’s dominant power.
