For example, following the enactment of NAFTA the price of vehicles, relative to average prices, showed an important decline, particularly in the US (Graph 7).17 In summary, NAFTA has entailed positive gains for both the US and the Mexican economies.
The trend is a cause for concern. This is despite the fact that these levels of NPLs are relatively low, by international norms, especially in the context of prudent and sound accounting practices as well as the quality and level of capital in the banking system.