Mexico's Middle Class - Piggy Banks Full Of Pesos
Business Week looks at what's happening in Mexico as the middle class (those making between $7,200 and $50,000 a year) "have swelled to record levels of around 10 million families. That's equal to nearly 40% of all Mexican households."
The article reports on "brutal competition among the banks" for mortgage and credit relationships with these middle class consumers and highlights GE Consumer Finance's efforts in Mexico.
Separately, this morning's lead article on the front page of the Wall St. Journal is about how retail is booming in McAllen, Texas along the Mexican border as Mexican shoppers, both rich and poor, shop there at one of the US's highest grossing shopping malls.
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