What is the merger and acquisition environment in Mexico?
De Ovando: When countries undergo a crisis, generally the weaker are forced to join the stronger. For that reason, we are beginning to see an increase in M&A activity. Air travel has declined as a result of the H1N1 flu scare. I would not be surprised if limitations that were imposed on foreign ownership of certain airlines in the past are lifted to permit them to survive. Editor: What particular trends should our U.S. readers be aware of? De Ovando: I have already mentioned important trends affecting infrastructure development. Mexico also has a very large automobile industry, although that industry is suffering from the worldwide decline in demand. Because China and India are growing, their need for our raw materials is increasing, and Mexico is very strong in mining. We have very large mining facilities in not only silver but copper and other materials. Mexico is also a large producer of steel. I see China and India now taking significant roles in Mexico. These changes bode well for
