7964933
Description
Mind Map by Greg Ocampo, updated more than 1 year ago
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Created by Greg Ocampo
about 7 years ago
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1982: The decision of the president
- José López Portillo
- What happened before that led to this severe economic crisis?
- Accumulate a powerful external debt that in future could not be paid without economic problems
- Started to be an Oil-Economy
- Regrettably, Mexico don´t establish Oil cost
- But in that moment, the oil price increased
- But in that moment, the oil price increased
- Regrettably, Mexico don´t establish Oil cost
- Accumulate a powerful external debt that in future could not be paid without economic problems
- What the president did wrong?
- Believed Oil revenue would be always profitable
- The late decision to nationalize the banking system because he didn't know what to do
- Start to worry when he saw crisis close
- 1977-1981, México has no problems.
- 1982: Start to worry
- 1977-1981, México has no problems.
- Don't know how to administrate the abundance
- Believed Oil revenue would be always profitable
- What society did wrong?
- Support the decision of the president
- Support the decision of the president
- Consequences for society and the country?
- Economic Crisis
- Dollar price increased considerably
- Economy didn't grow and then started to grow up slowly until now
- Prices of the products were extreme
- Dollar price increased considerably
- Disparity peso-dollar started
- Economic Crisis
- Political consequences of this financial disaster:
- Banks believed that México was moving to a socialist system(It wasn't true)
- De la Madrid had to carry on with the problem, but he couldn't
- Then, Banking Nationalization didn't function and México had to enter to neoliberalism
- Then, Banking Nationalization didn't function and México had to enter to neoliberalism
- México never again relied on a national system, México had to enter on neoliberalism
- México started to depend more from U.S.
- Banks believed that México was moving to a socialist system(It wasn't true)
- What happened before that led to this severe economic crisis?
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