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International Finance

Chapter Nine: Mexico

Stretching 1,850 miles between the Gulf of Mexico and the Pacific Ocean, Mexico forms part of a land bridge connecting North and South America. At its northernmost (and widest) extent, Mexico shares a common boundary with the United States. Belize and Guatemala flank its southern border. The country’s landscape varies from coastal lowlands and a massive central plateau to spectacular mountains and active volcanoes. Resting on the Pacific’s "Ring of Fire"—an area of frequent volcanic and seismic activity—Mexico experiences terrifying earthquakes. Early Native Americans known as the Aztec called Mexico the "land of the shaking earth." Once ruled by the Spanish and later by a few rich and powerful people, Mexico today, like the U.S., is a federal republic.


What time Is It in Mexico?

Most of Mexico is in Central or Mountain Standard Time. When it’s 10 a.m. in Washington, D.C., then it’s 9 a.m. in Mexico City.


People

Mexico’s first inhabitants migrated from Asia thousands of years ago. In 1521 the last great native empire, the Aztecs, fell to the Spaniards. Today, most of the population are metizos, people of both Spanish and Native American ancestry. Central Mexico is home to more than half of all Mexicans, with three out of every four people living in the cities. Mexico City, a thriving industrial center and the nation’s capital, is the world’s second most populated city. Only about 25 percent of Mexicans live in rural areas, where the village marketplace is still the social and commercial hub. Mexico is proud of its artistic heritage. Modern Mexicans skillfully blend new and ancient techniques to make silver jewelry, colorful pottery, and handblown glass.


Doing Business in Mexico?

If you’re planning to do business in Mexico, here are a few tips you might want to know.

Greetings

  • It’s traditional for men to shake hands. Men often wait for a woman to offer her hand first in greeting.
  • Address someone by title (Profesor, Doctor, Senor, Senora, Senorita) and last name. Wait for your Mexican counterpart to initiate the use of first names.

Gestures

  • Most Mexicans talk at a closer distance than Americans. It would appear unfriendly to pull away.
  • Don’t place your hands on your hips. It will be read as a challenge.
  • When paying for purchases, place your money in the cashier’s hand, not on the counter.

Protocol

  • Punctuality is expected from foreigners, but be prepared to wait for your business counterpart.
  • Take it slow. Mexicans are looking for personalismo, a relationship based on trust and friendship.
  • Never pull rank or behave in any way that might compromise a person’s dignity.


Want to know more about Mexico?

Visit www. Britannica.com.

 


   
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