Is Mexico a third-world country or not? Does it have the world's most billionaires? Why the huge contrast?

Question

Economically speaking, what official economic category does Mexico fall into?

Is is officially a third-world country or not?

I have also heard that Mexico is the country with the world's most billionaires. Is that true?

And if Mexico is indeed a third-world country, then how could it have the world's most billionaires as well?

Answer 1

If we look at the rich oil exporting countries, then the picture could be more clear about Mexico
Saudi Arabia and Qatar etc all have HIGH GDPs and the population is mainly rich but that's only because of a natural resource, which is in this case OIL.
In order for a country to be developed then the following has to apply:
- it shouldn't be dependent on natural resources and should have a very advanced industry
- It should have a high spending on Research and Development R&D ( developed nations spend 3% of their GDPs on R&D while third world countries spend 0.3% of their lower GDPs on R&D)
- it should have a sophisticated financial system and markets
- It should have a very good educational system
- a good health coverage

GDP per capita in Mexico is very low. Health conditions aren't good and there is a very high rate of unemployment. The industry is still not strong and the rich apprently are very corrupt. It still has a lot to do, but if someone tells you the richest person lives in Africa, then you should always ask how do the live poor in Africa. Same thing applies to all nations!

Answer 2

Mexico is NOT a third world country. It has a GDP per capita of $6300 which similar to Poland and many time greater than the impoverished nations of the world. Nor does it have the most billionaires, the US does followed by Japan. However it does have a high degree of income inequality as does most of South and Central America.
http://www.forbes.com/lists/2007/10/07billionaires_The-Worlds-Billionaires-Latin-America_6Rank.html
http://www.nationmaster.com/red/graph/eco_gdp_percap-economy-gdp-nominal-per-capita&b_map=1

Answer 3

Unfortunately for a long time Mexico has had the reputation of corruption.

But there is another factor, if a country borrows more than they can easily pay back their money loses value.
Mexico is the worlds largest producer of Silver and has been for a very long time. If they would dump the world bank/IMF and use a Silver backed currency they should start to prosper.

http://www.plata.com.mx/plata/plata/english.htm

Unfortunately the wealthy don't want what's best for the whole country they want to be influenced by the IMF and keep borrowing.
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Answer 4

Mexico is a country with crippling poverty, high levels of corruption, great social inequality and even moderate levels of undernourishment.

Considering that 5% of Mexicans are suffering from hunger (More than 5 million people), yes, I would say it's a third world country.

Answer 5

Geeeze what is this you and Mexico? Have you ever met one? 3rd World Country? I think not!
Go over and see for yourself, and get off this Mexican kick!