BIS central bankers’ speeches  1  Of course, this transformation has not been a zero-sum game, as suggested by the complementary roles that the two countries have played in certain expanding sectors, such as Mexico’s in-bound maquiladora and auto industries.
More importantly, and as predicted by theory, both economies have benefited from a wider availability of goods and services at lower prices.2 Mexico’s economic integration with the United States has not prevented it from expanding transactions with other nations and regions.