Mexico has much to learn from Asia for economic development: scholar

Source: Xinhua| 2017-10-31 10:32:16|Editor: Mengjie
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MEXICO CITY, Oct. 30 (Xinhua) -- Mexico could learn from Asian countries to boost its competitiveness and economic growth, a Mexican scholar said Monday.

Asian countries have become the leading competitors in the global market, which has been dominated by Europe and the United States for years, as a result of innovation and economic development, Arturo Oropeza, vice president of the Institute for Industrial Development and Economic Growth, said in a statement.

Oropeza, who published his new book last week "From the Atlantic to the Pacific. Rebuilding the World Order," said that Asian countries enjoy their own development models, which allowed them to achieve regular economic expansion of between 6-7 percent, while the Western model, as used in Mexico, is too bureaucratic and slow to respond to challenges.

"China seeks to be the main economic power in 2050, which is why it is seeking new markets and trading partners," he wrote.

In comparison, the United States, which is Mexico's main trading partner, has withdrawn from the Trans-Pacific Partnership, showing its lack of vision about the world's new drivers of wealth, Oropeza added.

Another factor to consider, he said, is that China has focused heavily on science, technology and finance, and seeks the common development of Asian countries, which is crucial to help develop the Asian middle class.

Oropeza said statistics suggest that, by 2030, 500 million more people will join the middle class in Asia, most of them in China.