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Immigration Reform in the U.S. & Mexico's Booming Economy

17 June, 2013

Mexico is changing rapidly and is exhibiting greater potential for both today and the future than ever before. As a result,fewer Mexicans are immigrating to the U.S.,with net migration to and from Mexico hitting nearly zero in 2010.

“Mexico’s future is bright,and tapping into this growth and economic prosperity is vital to U.S. competitiveness,” writes CNN. “The U.S. needs immigration reform to build on its huge bilateral trade with Mexico – more than $1 billion in goods and services each day,or $45 million an hour.”

Since the global economic downturn has eliminated many of the low-wage job opportunities that Mexican immigrants were coming into the U.S. hoping to find,many Mexicans have been opting to stay home and are benefiting from the fact that opportunities in all areas of Mexico real estate are really starting to grow.

“Mexico’s rise means that going north is a less attractive option for getting ahead in life,” writes CNN. “Its economy grew more than double the rate of the U.S. last year,with a projected 3.5 percent growth in 2013.”

In addition,the number of new Mexican-owned businesses that opened between 2005 and 2008 increased by 27 percent annually,while the number of Mexican students graduating from advanced university level programs increased by 11 percent during the same period.

“Mexico is a hot tub of business activity,” writes CNN. “Mexican entrepreneurs and foreign companies are setting up shop.”

As one of Latin America’s fastest-growing economies,Mexico has more competitive wages and a better geographic location than China,along with easy access to the U.S. and Canada thanks to the North American Free Trade Agreement (NAFTA). According to CNN,“demographic and economic transformations in Mexico mean that the U.S. can expect the number of Mexicans coming into the U.S. to slow to a trickle,” in the coming years.

In fact,according to the article,when it comes to immigration reform,the real issue is likely to be finding a way to ensure that the U.S. can still attract enough Mexican workers to remain competitive on the world stage in the future. Possible solutions include a demand-driven visa system and providing a pathway to citizenship for the undocumented workers who already live in the U.S. Finally,any new border security plan is likely to also improve efficiency,infrastructure and technology in order to reduce congestion,which can delay trade.