Third world politics or the new normal?
The prospect of an untamed president petrifies Mexico’s business establishment.
With just one month to go before do-or-die national elections in Mexico, the once unthinkable is now thinkable. The left-wing nationalist firebrand Andres Manual Lopez Obrador (or AMLO), who has waged a PR war against Mexico’s business establishment, could soon be president. In the latest Bloomberg poll he extended his lead over his closest rival to a whopping 26 points.
The prospect of an AMLO presidency petrifies Mexico’s business elite. In a closed-door meeting last week Alberto Baillères, a mining magnate and owner of luxury retail chain Palacio del Hierro, urged employees to vote for the candidate most likely to defeat AMLO. “It’s the best chance we have of preserving the economic system that allows us to employ you,” Baillères, Mexico’s third richest man with an estimated $11 billion fortune, warned.
It’s a message that is being echoed by many of Mexico’s business…
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