9781422286869

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Skyline of the financial center of Mexico City. On the right is Torre Mayor, the tallest skyscraper in Latin America.

A Troubled History T oday, Mexico has the world’s 14th-largest economy, with a gross domestic product (the value of all goods and services produced in a year) valued at over $1.3 trillion in 2014. The Mexican economy is heavily dependent on exports, as Mexico is one of the world’s most receptive countries when it comes to free trade. It has signed agreements with many countries, including the United States, China, Japan, the European Union, and many countries of Central and South America. These agreements typically reduce or eliminate trade restrictions and fees on imports and exports , making it less expensive for foreign companies to buy products from Mexican companies. However, Mexico was not always an important part of the global economy. For centuries, it was an isolated land with a primitive economy based primarily on agriculture. Mexico did not become an independent nation until 1821, and for decades after gaining independence from Spain the country had many different governments. These years of political upheaval kept the Mexican economy from diversifying and growing. The foundations of Mexico’s modern economy were set after 1876, when Porfirio Díaz became president of the country. Díaz ruled Mexico until 1911, and

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