Middle Income Nation Mexico

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1. Facts:
The textbook says Middle-income nations are classified as either lower-middle income or upper-middle income. To be considered in the lower-middle income category, a nation must have a GNI PC that ranges somewhere from $1,006 - $3,975. The GNI PC for the upper-middle income nations ranges from $3,975- $12,275. As of 2010, the World Bank declared that middle-income nations all together contained a population of 2.4 billion people. According to the textbook, 57% of that total population lived in urban areas. The World Bank also states that a significant problem in middle-income nations is debt accumulation. This is due to the fact that these nations build up massive amounts of debt by borrowing money from other nations to further expand …show more content…
According to information from the World Bank’s website, Mexico, is specifically categorized as an upper-middle income nation (worldbank.org). Its population total is 125.4 million as of 2014, and its GNI PC is $9,860 (worldbank.org). Mexico also has debt accumulation which continues to rise. When I checked how much they owed, I found it was about 9,349,434,448,366 in Mexican currency (nationaldebtclock.org). This translates to roughly $565,365,216,980 in U.S currency (nationaldebtclock.org). Furthermore, Mexico’s individual urban population is 99,018,446 which indicates that 79% of the total Mexican population lives in urbanized communities …show more content…
Contrary to what some people might assume, it is not a poor country. Many people make decent livings there working various jobs. Their standard of living is moderate, but it still doesn’t compare to the more luxurious lifestyles of the U.S population. Every time I revisit Mexico, I always take into account how much more urbanized it becomes. In the U.S, change happens fast and cities are built fast because our country has enough money to make it that way. In Mexico, change happens slower because they have less money. Even still, I always see Mexico’s standard of living increase slowly and the country becoming more industrialized. They are steadily changing many of their economic ways and becoming more like the U.S. It’s kind of like what the modernization theory states. From my experience there and taking all these factors into account, it is clear to see how Mexico can be classified as a middle-income
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