Thursday, April 10, 2008

Remittances

Remittances going to Mexico from the United States have been steadily growing. They are the crucial survival method of the recipients. They have grown from 20 million to almost 30 being predicted for next year. What is the significance of all this? To the U.S. it means that they are loosing a large portion of money to foreign banks, but not only that people sending this money could invest it in the States and better the community. To Mexican recipients this means a way to survive, a way to feed the family and buy the household basics. I think this process is becoming larger and larger, but it is not good in my opinion. It is just showing that a good portion of the Mexican population is depending on the U.S. economy to survive. The Mexican government is not worrying about its poor and the remittances are making up for that. These remittances are what is holding Mexico afloat, without them chaos would break out because there are no jobs and the government is not doing anything.

2 comments:

Steve said...

This is a very good point. I also think that the movie that we watched this week also brings up a good point in that there is nothing that can be done right now. There is no incentive for Mexican officials to step in a put their own money into the problem, when there is money coming in from the US. And there is no way US officials can cut off the flow of money going into Mexico. What I think is the most obvious solution would be to help rebuild and strengthen the Mexican economy and infrastructure. However that is easier said then done.

Christy Sampson said...

I think he hit the nail on the head with this one. As shown in class, the video was clear when those who worked in the US were sending money back to mexico. I don't blame the individual, because for them it is simply survival of the fittest. The Mexican government needs that money flowing into their country due to the lack of jobs. America has no control with this because many of these workers are illegal and unknown to the syste. We need to help Mexico build up, but as the other person said, "its much easier said than done."