Background:
The site of advanced Amerindian civilizations, Mexico came under
Spanish rule for three centuries before achieving independence early
in the 19th century. A devaluation of the peso in late 1994 threw
Mexico into economic turmoil, triggering the worst recession in over
half a century. The nation continues to make an impressive recovery.
Ongoing economic and social concerns include low real wages,
underemployment for a large segment of the population, inequitable
income distribution, and few advancement opportunities for the
largely Amerindian population in the impoverished southern states.
Elections held in July 2000 marked the first time since the 1910
Mexican Revolution that the opposition defeated the party in
government, the Institutional Revolutionary Party (PRI). Vicente FOX
of the National Action Party (PAN) was sworn in on 1 December 2000
as the first chief executive elected in free and fair elections.