Mexico will be a world power: Goldman

Mexico.- Mexico will become the seventh biggest economy in the world in 2020 and will contribute with 7.8% of Global Gross Domestic Product, more than Russia and India, Jim O’Neill, Head of Investment Funds with Goldman Sachs, affirmed last Monday. Mr. O’Neill said before British investors that “Mexico should be in the radar” in the next few years, because it will be one of the fastest growing economies. Mexico is among the so-called “growth markets”, a concept created by O’Neill in 2010 to refer to the countries that will post the largest growth in the next decade. During the business forum “Mexico Week”, O’Neill said that in the next decade “Mexico will contribute more than Russia and India to the global economy”. O’Neill, creator of BRIC economy concept (Brazil, Russia, India and China), said that the reason why he did not include Mexico in this block of emerging countries a decade ago was because it was not growing at the same pace as China or Brazil. He further pointed-out that this year Mexico will grow 3.6%, the same as Brazil, and in 2013 the Mexican economy is expected to post 3.8% annual growth.