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Marketplace All-in-One

What a Claudia Sheinbaum presidency means for Mexico’s economy

Marketplace All-in-One

Marketplace

News, Business

4.51.4K Ratings

🗓️ 3 June 2024

⏱️ 8 minutes

🧾️ Download transcript

Summary

As you’ve likely heard by now, Claudia Sheinbaum won Mexico’s presidential election in a landslide victory and is slated to become the nation’s first female president. But Mexico is facing a major budget deficit, exacerbated by spending on infrastructure and social programs. We’ll discuss what Sheinbaum’s win means for the economy. Plus, we’ll examine the latest in the meme stock craze after the value of GameStop shares soared in premarket trading.

Transcript

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0:00.0

My name is Lee Hawkins. I've been a journalist for over 25 years. On my new

0:08.8

podcast, What Happened in Alabama, I get answers to some of the hardest questions about how things

0:15.4

came to be for many black Americans and the truth that must come before any reconciliation can

0:21.6

happen. I investigate my family history, my upbringing in

0:26.2

Minnesota and my father's painful nightmares about growing up in Alabama. What happened

0:32.1

in Alabama is a new series confronting the cycles of trauma for myself,

0:37.0

my family, and for many black Americans.

0:40.0

Listen now. The relationship of the state to the economy with a powerful new president for Mexico.

0:57.0

I'm David Brancaccio in New York.

0:59.0

As you've been hearing, the vote tally this morning suggests a landslide victory for what will be Mexico's first woman

1:04.9

president Claudia Shanebaum here with more on what a Shanebaum administration

1:09.4

would mean for Mexico's economy is Pamela Starr she She's a professor of international relations

1:14.4

and the practice of political science at the University of Southern California.

1:18.4

Welcome. Thank you. Glad to be here. It looks like Shane Baum and her party will have a lot of power,

1:26.7

super majorities in both houses of Mexico's Congress, but I also see the value of

1:31.8

the Mexican currency the peso has fallen on this news and I'm seeing nervous quotes from business analysts.

1:38.0

Are you thinking the business establishment sees more risk moving forward?

1:43.6

I think there's no doubt that they're saying more risk moving forward.

1:46.6

The conventional wisdom prior to the election was that Shambam was going to win a comfortable majority,

1:53.7

but she would not win the two-thirds majority

1:56.5

in both houses, the Congress that allows her

1:59.5

to pretty much change the Constitution at will.

...

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