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José López Portillo
José Guillermo Abel López Portillo y Pacheco (; 16 June 1920 – 17 February 2004) was a Mexican writer, lawyer and politician affiliated with the Institutional Revolutionary Party (PRI) who served as the 58th president of Mexico from 1976 to 1982. López Portillo was the only official candidate in the 1976 presidential election, being the only president in recent Mexican history to win an election unopposed. Politically, the López Portillo administration began a process of partial political openness by passing an electoral reform in 1977 swhich loosened the requisites for the registration of political parties (thus providing dissidents from the left, many of whom had hitherto been engaged in armed conflict against the government, with a path to legally participate in national politics) and allowed for greater representation of opposition parties in the Chamber of Deputies, as well as granting amnesty to many of the guerrilla fighters from the Dirty War. On the economic ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Luis Echeverría
Luis Echeverría Álvarez (; 17 January 1922 – 8 July 2022) was a Mexican lawyer, academic, and politician affiliated with the Institutional Revolutionary Party (PRI), who served as the 57th president of Mexico from 1970 to 1976. Previously, he was Secretariat of the Interior (Mexico), Secretary of the Interior from 1963 to 1969. At the time of his death in 2022, he was his country's oldest living former head of state. His tenure as Secretary of the Interior during the Gustavo Díaz Ordaz, Díaz Ordaz administration was marked by an increase in political repression. Dissident journalists, politicians, and activists were subjected to censorship, arbitrary arrests, torture, and extrajudicial killings. This culminated with the Tlatelolco massacre of 2 October 1968, which ruptured the Mexican Movement of 1968, Mexican student movement; Díaz Ordaz, Echeverría, and Secretary of Defense Marcelino Garcia Barragán have been considered as the intellectual authors of the massacre, in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Left-wing Politics
Left-wing politics describes the range of Ideology#Political%20ideologies, political ideologies that support and seek to achieve social equality and egalitarianism, often in opposition to social hierarchy. Left-wing politics typically involve a concern for those in society whom its adherents perceive as disadvantaged relative to others as well as a belief that there are unjustified inequalities that need to be reduced or abolished. Left-wing politics are also associated with popular or state control of major political and economic institutions. According to emeritus professor of economics Barry Clark, left-wing supporters "claim that human development flourishes when individuals engage in cooperative, mutually respectful relations that can thrive only when excessive differences in status, power, and wealth are eliminated." Within the left–right political spectrum, ''Left'' and ''right-wing politics, Right'' were coined during the French Revolution, referring to the seat ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Jorge Díaz Serrano
Jorge Díaz Serrano (6 February 1921 – 25 April 2011) was a Mexican politician and engineer, member of the Institutional Revolutionary Party The Institutional Revolutionary Party ( es, Partido Revolucionario Institucional, ; abbr. PRI) is a political party in Mexico that was founded in 1929 and held uninterrupted power in the country for 71 years, from 1929 to 2000, first as the Nati ..., ambassador to the Soviet Union, senator, and director general of Pemex from 1976 to 1981. References Instituto Politécnico Nacional alumni Ambassadors of Mexico to the Soviet Union 1921 births 2011 deaths Politicians from Sonora People from Nogales, Sonora 20th-century Mexican politicians Institutional Revolutionary Party politicians National Autonomous University of Mexico alumni Members of the Senate of the Republic (Mexico) {{Mexico-politician-stub ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Arturo Durazo Moreno
Arturo "El Negro" Durazo Moreno (1924 – 5 August 2000) was the Chief of Police in Mexico City for six years, from 1976 to 1982. He was arrested in 1984 and incarcerated on multiple counts of corruption, extortion, tax evasion, smuggling and possession of illegal weapons and cocaine trade kickbacks. Biography Durazo was born in the northern border state of Sonora and moved to the capital at a young age. He studied business and worked in the central bank for four years starting in 1944. In 1948, he switched careers to that of traffic inspector, moving on to becoming an agent of the Federal Security Directorate (DFS). At the end of the 1960s, he became a member of the infamous 'White Brigade', a right wing paramilitary police force made up to crush the student movements of 1968 and eradicate the threat of communists and communism in general in Mexico. In 1976, Durazo's childhood friend, José López Portillo, was nominated as the presidential candidate for the long-ruling I ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Nepotism
Nepotism is an advantage, privilege, or position that is granted to relatives and friends in an occupation or field. These fields may include but are not limited to, business, politics, academia, entertainment, sports, fitness, religion, and other activities. The term originated with the assignment of nephews to important positions by Catholic popes and bishops. Nepotism has been criticized since the ancient times by several philosophers, including Aristotle, Valluvar, and Confucius, condemning it as both evil and unwise. Origins The term comes from Italian word ''nepotismo'',"Nepotism." Dictionary.com. Retrieved 20 June 2013. which is based on Latin root ''nepos'' meaning nephew. Since the an ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
External Debt
A country's gross external debt (or foreign debt) is the liabilities that are owed to nonresidents by residents. The debtors can be governments, corporations or citizens. External debt may be denominated in domestic or foreign currency. It includes amounts owed to private commercial banks, foreign governments, or international financial institutions such as the International Monetary Fund (IMF) and the World Bank. External debt measures an economy's obligations to make future payments and, therefore, is an indicator of a country's vulnerability to solvency and liquidity problems. Another useful indicator is the ''net'' external debt position, which equals gross external debt less external assets in the form of debt instruments. A related concept is the net international investment position (net IIP). Provided that debt securities are measured at market value, the net external debt position equals the net IIP excluding equity and investment fund shares, financial derivatives, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Capital Flight
Capital flight, in economics, occurs when assets or money rapidly flow out of a country, due to an event of economic consequence or as the result of a political event such as regime change or economic globalization. Such events could be an increase in taxes on capital or capital holders or the government of the country defaulting on its debt that disturbs investors and causes them to lower their valuation of the assets in that country, or otherwise to lose confidence in its economic strength. This leads to a disappearance of wealth, and is usually accompanied by a sharp drop in the exchange rate of the affected country—depreciation in a variable exchange rate regime, or a forced devaluation in a fixed exchange rate regime. This fall is particularly damaging when the capital belongs to the people of the affected country because not only are the citizens now burdened by the loss in the economy and devaluation of their currency but their assets have lost much of their nominal valu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sovereign Default
A sovereign default is the failure or refusal of the government of a sovereign state to pay back its debt in full when due. Cessation of due payments (or receivables) may either be accompanied by that government's formal declaration that it will not pay (or only partially pay) its debts (repudiation), or it may be unannounced. A credit rating agency will take into account in its gradings capital, interest, extraneous and procedural defaults, and failures to abide by the terms of bonds or other debt instruments. Countries have at times escaped some of the real burden of their debt through inflation. This is not "default" in the usual sense because the debt is honored, albeit with currency of lesser real value. Sometimes governments devalue their currency. This can be done by printing more money to apply toward their own debts, or by ending or altering the convertibility of their currencies into precious metals or foreign currency at fixed rates. Harder to quantify than an int ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
1980s Oil Glut
The 1980s oil glut was a serious surplus of crude oil caused by falling demand following the 1970s energy crisis. The world price of oil had peaked in 1980 at over US$35 per barrel (equivalent to $ per barrel in dollars, when adjusted for inflation); it fell in 1986 from $27 to below $10 ($ to $ in dollars). The glut began in the early 1980s as a result of slowed economic activity in industrial countries due to the crises of the 1970s, especially in 1973 and 1979, and the energy conservation spurred by high fuel prices. The inflation-adjusted real 2004 dollar value of oil fell from an average of $78.2 in 1981 to an average of $26.8 per barrel in 1986. In June 1981, ''The New York Times'' proclaimed that an "oil glut" had arrived and ''Time'' stated that "the world temporarily floats in a glut of oil". However, ''The New York Times'' warned the next week that the word "glut" was misleading, and that temporary surpluses had brought down prices somewhat, but prices were still we ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mexican Weekend
The Mexican Weekend marked the beginning of the Latin American debt crisis. In August 1982, Mexican Secretary of Finance Jesús Silva Herzog Flores flew to Washington, D.C., to declare Mexico's foreign debt unmanageable, and announce that his country was in danger of defaulting. This crisis had long lasting impact over the entire Latin American countries which is also known as "Latin American debt crisis". The United States and other neighboring developed countries such as, Canada came up with the assistance plane for Mexico with the co-ordination of financial institutions like the International Monetary Fund, World Bank etc. During this period major economic reforms were undertaken, with liberalisation and privatisation replacing the earlier model of state led growth. As a fallout of neo-liberal economic policies, foreign investors started investing heavily and over $90 billion flowed into the country during 1990-93. But within a short span of time this plan failed totally and M ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economic Growth
Economic growth can be defined as the increase or improvement in the inflation-adjusted market value of the goods and services produced by an economy in a financial year. Statisticians conventionally measure such growth as the percent rate of increase in the real gross domestic product, or real GDP. Growth is usually calculated in real terms – i.e., inflation-adjusted terms – to eliminate the distorting effect of inflation on the prices of goods produced. Measurement of economic growth uses national income accounting. Since economic growth is measured as the annual percent change of gross domestic product (GDP), it has all the advantages and drawbacks of that measure. The economic growth-rates of countries are commonly compared using the ratio of the GDP to population (per-capita income). The "rate of economic growth" refers to the geometric annual rate of growth in GDP between the first and the last year over a period of time. This growth rate represents the trend in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mexican Oil Boom
The Mexican Oil Boom was an oil boom from 1977 to 1981 which eventually led to a disastrous crash that lasted for most of the 1980s, driving the economy to a payment default and a significant deficit correction as oil prices fell. Pre-Boom period Since 1954 and until 1971 the Mexican economy performed very consistently, averanging 6% GDP growth each year and 3% inflation rate, allowing the country to sustain an exchange rate of 12.50 pesos per US dollar for 22 years (1954-1976). This period, called the "Mexican Economic Miracle" and "Stabilizing Development", consisted in an ISI model. By the late 1970s the economy faced certain limitations in the economic model, at the same time the United States were troubled with a rising trade deficit, sparking an international financial period of uncertainty. Mexico opted out to put more public money and investment to sustain fast growth. This was fuelling inflation as government spending was fully financed with new printed money. A deva ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
