Overtime economic growth has been widespread in most countries. It has increased the dependence of the countries, for they can rely on themselves to sustain their population. The economy is said to have grown if the per capita income of the state increases. The per capita income is determined by the average earning of an individual in a country or a region. The given essay will discuss the economic growth of Mexico and the US.
The mentioned two states have worked together in overtime to develop economically. Following this integration, they have not only built good economic, but also strong cultural ties. Among the rest of the countries in the world, Mexico is the second country alongside Canada, which imports products from the US. Apart from Mexico being a market for US goods, it is also in a manufacturing partnership with it. Their relation became stronger and more profitable after they signed an agreement in 1994. The two nations share an extensive scope of interests, which has made them even closer. The countries have created a wide range of links, both social and economic. The Gulf of Mexico has encouraged trade between the countries due to the easy transportation of goods.
The countries’ economic growth could easily be determined by their per capita income over time. The per capita income of Mexico was lower than that of the US in 2011. However, this has supplementarily increased, especially for Mexico. The main determinant of the per capita income of Mexico is the United States. It is because the US is the main market for Mexico export