As usual, my remarks are entirely my own and do not necessarily reflect those of the Bank of Mexico or its Governing Board. Long-term economic ties Mexico has long been in a process of increasing economic integration with the United States, encompassing goods and services, capital, and labor markets.
These links, reinforced by the North American Free Trade Agreement, have yielded substantial benefits on both sides of the border, including more competition, efficiency, job creation, and consumer wellbeing. The most significant bond with any state is with Texas, given its place as the tenth largest economy in the world and the extensive border it shares with Mexico.