Mexican President Andrés Manuel López Obrador’s intensifying attacks on his opponents and his meddling in the economy are part of a campaign calculated to cement his legacy and bolster support for his eventual successor ahead of presidential elections midway through next year. anus year.
Friday veteran leftist scared investors by ordering the temporary occupation of a section of a private railroad that he sees as crucial to one of his symbolic public works to promote development in the impoverished south of the country.
On Wednesday, it was reported that the company whose railway arm controlled the section, Grupo México, was no longer in the race to buy the Mexican arm of US bank Citigroup. will seek an initial public offering.
Some people familiar with negotiations blamed the rail conflict for the failure of the dealaccording to a Reuters analysis signed by Dave Graham.
The events came in the wake of López Obrador’s attacks on the Supreme Court, which overturned government orders to give priority to its symbolic public works and resisted the vigorous nationalist momentum that fueled conflict with the United States and other business allies.
Although he regularly argued with companies obstructing his economic policies, the president tried to encourage investment in a broader sense and take advantage of growing interest in moving companies to Mexico from Asia due to trade tensions between the US and China.
His vilification of the court and other restrictions on his power have prompted accusations from the opposition that he is recklessly concentrating power ahead of the June 2024 presidential election, which his party is poised to win despite López Obrador being banned from running. one term.
Polymnia Sierra, a former adviser to López Obrador, said the president was playing on popular prejudices about corrupt elites, anti-Americanism and inequality by deliberately encouraging the opposition to attack him.
“It feeds two great currents of thought, it feeds them every day,” said Sierra, now an opposition MP. “People like to talk about the rich, call them thieves. That’s why it doesn’t go down in the polls,” he added.
A spokesman for López Obrador acknowledged that the president applied economic pressure to implement key projects, that he tailored his criticism to his base ahead of the presidential election, and that the opposition was drawn into the debate on his terms.
The President claims that previous governments have rigged the economy in favor of a wealthy minority, and that he was elected primarily to protect the interests of the poorest Mexicans.
“I have to respect people,” he said this week.
López Obrador’s approval ratings have remained close to or above 60% for most of his administration, providing a basis for support for the ruling Movimiento Nacional Regeneración (Morena) seeking a second six-year term in 2024.
López Obrador has urged his party to continue what he calls Mexico’s “fourth transformation” after he retires next year. Polls show Morena as the top favorite to win in 2024, helped by the popularity of López Obrador himself.
Polls show the favorites to replace the 69-year-old president are Mexico City Mayor Claudia Scheinbaum and Foreign Minister Marcelo Ebrard, both longtime allies of the president.
“NOT A SOCIALIST”
López Obrador was devoting more and more time to flagship projects, and Sierra said the rail dispute with Grupo México was not a sign that he was preparing for a wider conflict with the companies, but rather that he was determined to complete his favorite projects.
The track is part of a plan to create a modern rail link between the Pacific coast and the Gulf of Mexico, which, along with another railway under construction in the Yucatan Peninsula, known as the “Maya Train”, is one of the largest infrastructure projects.
“He gets involved with private initiative, but only (when) it gets in the way,” Sierra argued, arguing that the president has been less active in wrestling control of his power than she initially expected. “He’s not the socialist we thought he was,” he added.
López Obrador has repeatedly praised his leadership of the economy, the rise of Mexico’s main stock index, his unwillingness to borrow, and the appreciation of the peso during his tenure. He also refused to raise the income tax.
But in his daily press conferences, he denounces institutions that hinder his efforts to deliver on campaign promises or financially support his critics.
As the opposition is fragmented and divided, the judiciary has become the most visible obstacle to its ambitions.
This week, López Obrador once again accused the Supreme Court of being controlled by entrenched interests that have plunged Mexico into “decline.”
Gabriela Cuevas, a former MP for Morena, said that while such attacks are alarming, the opposition has time and again allowed the president to stage public debate, taking advantage of the fight for institutions like the Supreme Court and other bodies that are secondary to many older people. Mexicans. , worries about security and poverty.
He explained that since the opposition failed to weaken López Obrador’s hold on the narrative, elite-dominated institutions such as the Supreme Court became more attractive targets for him.
As the election approaches, the divisive rhetoric voters are responding to is likely to continue to intensify, Cuevas added.
“He knows what’s important to people, what’s hurting Mexicans,” he said.
*Dave Graham/Reuters.
Source: Aristegui Noticias

Roy Brown is a renowned economist and author at The Nation View. He has a deep understanding of the global economy and its intricacies. He writes about a wide range of economic topics, including monetary policy, fiscal policy, international trade, and labor markets.