Nonperforming bank loans would have skyrocketed within the Mexican financial system. Widespread bank failures would have been almost Inevitable. The social and political consequences for the United States resulting from such a collapse in the Mexican economy are not too difficult to imagine. Certainly we would have seen the loss of U.S. jobs stemming from the inability of our second largest market to buy our exports. and we would have seen a significant increase in illegal immigration. Indeed. some of that is likely to happen because of the contraction that we have seen in the Mexican economy. That has already occurred.
Keywords matched
illegal immigration