Mexico

Mexico is a developing and mostly urbanized country, with few remaining agricultural regions. The country has a free market economy, the second-largest in Latin [Page 465]America, and has evolved from a state-dominated and protectionist economy to one of the most open in the region. In 2010, its population was 112.3 million. Mexico experienced average annual growth of 2.43 percent between 2004 and 2011. In 2010, unemployment was reported at 5.4 percent with an estimated underemployment of 25 percent. According to the World Bank, 47.4 percent of the total population lives below the poverty line. The unequal development between urban and rural areas is significant. As of 2005, 54 percent of rural households reported asset-based poverty compared to 32 percent of urban households, and this prompts ...