Discuss whether Mexico has the potential to become a future global Essay

Discuss whether Mexico has the potential to become a future global economic power - Essay Example In order for the country to achieve such, it requires an appropriate management of its various economic sectors with the view of limiting the various economic threats that have threatened country’s economy in the past. The expansion of the various economic sectors will likely improve the country’s economic potential by increasing the employment rate of the economy thus facilitating an expansion of the economy (Boyes & Michael, 2012). The discussion below portrays some of the major economic features and an elaborate discussion of the current economic state of the country thus developing the growth potential the economy enjoys. Current economic characteristics of the country The Mexican economy has various vibrant sectors all of which sustain the country’s economy. All of the sectors present a potential for expansion thus promising the growth of the economy into a global economic power. Among the most vibrant sectors in the economy are tourism, communication and tr ansportation (Fox, 2002). Transportation sustains the economic growth in any country. With this knowledge, the successive Mexican governments have often invested in the development and expansion of the country’s transport system. The country has long road network that links nearly every part of the country. With an effective road network that joins every part of the country, the economy enjoys faster transportation of both goods and passengers throughout the different cities within the country. Besides the elaborate roads network, the country has a complementary rail network which also facilitates the faster transportation of goods. The development of the electric rail system has further improved the efficiency in the transportation sector, as goods currently take shorter to reach their destinations (Kates, 2007). The country also has various airports and airstrips all of which facilitate the faster transportation of products within the country. The capital city known as Mexi co City has two international airports, which act as the entry points into the country. Through the two facilities, the country maintains an active economic interaction with other countries globally as the two facilitate the transportation of goods in and out of the country (Aaker & Aaker, 2010). The effective and efficient transportation network has attracted hundreds of investors who enjoy the seamless transportation of both goods and humans to every part of the country. Another great factor that has attracted more multinationals into the country is the cheaper labor and electricity costs. The low cost of the two makes the country favorable for setting up companies. Various companies have therefore set up their manufacturing plants in the country (Tabbush, 2011). The fact that the country competes with the likes of China in labor and electricity costs makes it a favorable destination to most of the American multinational companies seeking cheap labor. This way, the country has con tinuously enjoy infrastructural development and an increasing employment opportunities as the companies provide ready employment. Tourism is the country’s main foreign exchange earner. With such a vibrant tourism industry, the country enjoys sustained influx of foreign currency and an equally large employment opportunity. The world tourism organization rated Mexico as the second most visited country in the world in 2001 coming second to the United States (Cavanagh, 2002). The country has

Child Slavery in West Africa's Cocoa Plantations Research Paper

Child Slavery in West Africa's Cocoa Plantations - Research Paper Example The paper tells that it is ironical that while children in cocoa growing countries live a miserable life, large manufacturers in Europe and the US reap huge profits selling chocolates made from cocoa. These children work in almost slave-like conditions while millions of consumers derive pleasure by consuming cocoa products. According to UNICEF, nearly 200,000 children are made to work in West and Central Africa through human trafficking. Mostly, these children are exported from Mali, Nigeria, and Cameroon. The cocoa farms in these countries operate in violation of basic human rights. Cote d'Ivoire and Ghana’s economy largely depends on the cocoa exports and the prices farmers fetch from the international market. International prices are not in their control and the value gain depends on the yield they get from their farms. Much of the work, even today, is done manually and farmers have never thought of exploiting technology to replace manual labor over last several decades due to its easy and abundant availability. At times, weather also plays their role in success and failure of cocoa crops. All these factors, and the traditional way of farmers’ thinking in using manual labor for having the lowest possible cost in producing cocoa, they continue to use child labor as they cost them much lower in comparison to adult labor. Cote d'Ivoire also known as Ivory Coast is the largest producer of cocoa beans followed by Ghana. Most of the child laborers in these countries arrive from Mali. Mali is one of the poorest countries not only in the region but in the world with a GDP of less than $1000 per capita as per the CIA Factbook as on 2010 with over 30% of the population below poverty line. The unemployment rate has been estimated huge 30% as per 2004 estimation. Over 80% people in Mali earn their living from agriculture. With hardly any earning opportunities available Malians are forced to move other neighboring countries. That is why poor families in Mal i agree to send their children to Cote d'Ivoire and Ghana.