Wow, now that’s a LOT of Ps, but it could be the solution to a myriad of “problems.”
The world of global public affairs is seeing an increasing shift toward reliance on support and investment from both the private and public sectors. It’s clear that cautious businesses and budget conscious governments in the aftermath of the global economic recession are less likely to take on 100 percent of the risk in expanding markets. As a result, public-private partnerships are more important now than ever before. From China’s steady financial expansion from Western Europe throughout the South Pacific, to Mexico’s meteoric rise in trade with the United States, challenges to new market entry and expansion can be solved through public-private partnerships.
To know and to grow foreign markets – especially in developing countries – it is crucial to understand how best to collaborate with those governments, and how to operate within foreign public affairs infrastructures. Promotion of private enterprise will come about through the building of strategic relationships and an understanding of big and small – knowing the local and the global markets, and how they inform one another.
Mexico’s trade surplus with the United States, for example, did not happen overnight. Amid a shrinking American middle class, Mexico is experiencing the opposite – a healthy and growing middle class. This growth is supported by U.S. trade and progressive leadership that understands the significance of growing international partnerships.
The integration of U.S.-made goods and products into Mexico’s economy and society has continued with surprising speed and completeness. Indeed, Mexico just surpassed India on the World Economic Forums Global Competitiveness Index. From Veracruz to Bedford Park, Ill., there is little variation in the products Americans can find on a Costco shelf. With support and coordination between both governments, Mexico will continue on its path to becoming America’s second-largest trading partner. This growing partnership will continue to open doors for many of Mexico’s other burgeoning industries.
In both the short and long-term, Mexico will see an increased focus on continued infrastructure development, as well as social and professional reform. In turn, these advancements will, without question, contribute to the U.S. economy in a way that promotes continued success for both countries.
By Tina Jeon