Mary Anastasia O'Grady: Don't Celebrate Mexico's Reforms Just Yet Mary Anastasia O'Grady - WSJ.com
go to original March 17, 2014

Mexico's Institutional Revolutionary Party (PRI) President Enrique Peña Nieto has been in office a mere 16 months, but his leadership has already changed the country's international image. Constitutional reforms in energy, education and telecommunications, once thought to be impossible, have removed roadblocks to new legislation that could increase competitiveness and drive faster growth.

In many ways Mexico appears ready to leave behind its corporatist past in which business was under the control of a one-party state. Indeed, pundits have declared that success is a fait accompli.

But old habits die hard.

The southern partner of the North American Free Trade Agreement still has two gargantuan - and not unrelated - problems that threaten its progress. On a visit to Mexico in February I got an earful about both - deficit spending that is heading higher and the rule of law that remains weak.

Read the rest at WSJ.com

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