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Tech's New Trillionaire

Ones and Tooze

CHAPTER

The Mexican State and the Importance of Development

The Mexican government doesn't really invest very significantly in its own country. Is that related to a sort of broader governance failure, vis-à-vis the drug cartels? The IMF chided Mexico's notionally left-wing government for failing to invest heavily enough and to spend heavily enough in social protection and poverty relief during the COVID crisis. And if you've got a huge booming oil and gas industry, like Russia has, then you can still have quite considerable state spending.

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