Mexican industries must also react quickly to orders, taking advantage of the country's proximity to the United States.

In some cases, the devaluation of the peso has been both a boon and a burden for the same Mexican industry.

"Mexican industry has a tradition of looking abroad for markets when domestic demand is slack," he notes.

Economists pointed to the data as evidence that Mexican industry was recovering from the shock of Chinese competition.

Mexican industry, protected for decades by high tariffs, churned out shoddy goods.

Mexican automotive industry traditionally presented by foreign assembly plants.

The bank then swaps the loan for a peso investment in Mexican industry.

Such swaps involve a bank exchanging some of its debt for a stake in Mexican industry.

In 1943, the Mexican industry produced seventy films, the most for a Spanish speaking country.

Some opponents of opening the Mexican industry to outsiders are implacable.