In the context of the reform of the judiciary, The Wall Street Journal claims that there are US businessmen who have put on hold the sum of 35 billion dollars in investments for different industrial sectors.
The reform of the judiciary intends amend article 95 of the constitution to elect judges, magistrates and ministers by popular vote for a period of 12 years. However, various power groups oppose the proposal promoted by President Andrés Manuel López Obrador (AMLO) and the president-elect Claudia Sheinbaum.
At this moment the reform of the judiciary It is being discussed in the Senate after its approval in the Chamber of Deputies. In this context, The Wall Street Journal states that $35 billion in investments are on hold in the United States.
In the context of the reform of the judiciaryThe American newspaper The Wall Street Journal states that there are businessmen who They put $35 billion in investments on hold; this while waiting to see how the initiative could affect their businesses.
It should be remembered that in 2023 Mexico was the ninth investment destination worldwide according to the United Nations Conference on Trade and Development (UNCTAD, a UN agency).
Aside from the above, the US newspaper claims that 35 billion dollars from “sectors ranging from Information technology and automobile manufacturing up to the gas pipelines and industrial infrastructure” are at risk:
“Business representatives and consultants estimate that foreign companies are holding back some $35 billion in investment projects in sectors ranging from information technology and automobile manufacturing to gas pipelines and industrial infrastructure because of uncertainty related to reform and the U.S. election. That figure nearly equals what Mexico attracts in foreign direct investment in an average year. Lately, most of that has been from companies reinvesting their profits abroad.”
The Wall Street Journal
According to The Wall Street Journal, the reform of the judiciary It also brings into play other things 18 billion dollars of private investment that Mexico required to cover its demand for electricity for industrial use.
The American newspaper considered that the Supreme Court of Justice of the Nation (SCJN) managed to block initiatives related to the Mexican electricity sectorwhich could be modified with the election of a new court chosen by popular vote.
In that sense, The Wall Street Journal also considered it likely that:
“Costly international arbitrations over investment rights are likely to increase as companies try to avoid Mexican courts. Lending to companies in Mexico would also be affected by the uncertainty, according to bankers.”
The Wall Street Journal
2024-09-09 16:12:24