Developments to pay attention to in Mexico and the world in 2023

What events will be significant in 2023? What is the outlook in national and international politics and sports for the coming year?

Tec de Monterrey specialists share their perspectives about the events to pay attention to in the coming year.

Here’s a list from CONECTA of what the most important events of 2023 may be according to these experts.

 

 

A 2023 full of events in Mexico

Dr. Arturo Sánchez, a research professor at the Tec’s Santa Fe School of Government and Public Transformation, shared his opinion on significant events in Mexico:

 

Approval of reforms to secondary electoral laws

Following the approval of the secondary electoral laws introduced by President Andrés Manuel López Obrador to the Chamber of Deputies in December, the bill will now pass to the Senate for further discussion.

As the deputies modified the bill and then passed it to the Senate at the end of the assembly period, it will have to wait for the new ordinary period in order for it to be approved.

After approval, the President must publish it in the National Gazette. However, if it is challenged, it will be the responsibility of the Supreme Court of Justice to make the decision.

 

Interpretation of INE reforms

After the modifications in the electoral laws and their approval in the Senate, the National Electoral Institute (INE for its initials in Spanish) will have to restructure and modify the way the elections are organized for the 2024 campaigns.

“The INE has a lot of work to do in order to restructure and think about how future elections should be conducted.

“Four electoral directors will be appointed, including the INE chairperson. This will have to take place at the beginning of April,” said the professor.

 

 

Elections in two states 

In 2023, the State of Mexico and Coahuila will hold ordinary elections to choose their new governor.

“Elections will be held in these two states, but the new electoral laws will not be applied yet.

“These elections are crucial for what may happen later for the presidential election. The State of Mexico has a large number of registered voters and Coahuila is important as the last stronghold of the PRI,” he said.

 

Getting prepared for the 2024 elections

The professor highlighted that the new electoral process will begin in 2023, when candidates for the Morena, Green, workers’, and opposition parties will be nominated.

“Decisions will be made, and it will be a year of debate regarding the presidential succession. We’re surely going to see this battle intensify for Morena’s (presidential) nomination, with the expectation of poll results by the middle of the year,” he said.

The rest of the political parties, including the independent ones, will begin to reveal their possible presidential candidates.

 

 

Possible inauguration of the Mayan Train

In the same way as this year’s inaugurations of the Felipe Ángeles International Airport and the Dos Bocas Refinery, the federal government may hold an inaugural ceremony for the Mayan Train in 2023.

“I think there will be a ceremony for the Mayan Train; at least for a section of it or to mark some progress,” said the professor.

 

Progress on the USMCA energy dispute

Professor Sánchez pointed out that the dispute with the United States regarding USMCA energy matters must be resolved in 2023.

This must come after reforms are made to the country’s secondary energy laws that have already triggered trade complaints from U.S. investors and companies in the energy sector.

“The free trade agreement already stipulates that these reforms of Mexican laws create a conflict, which has been delayed, discussed, and could end in differing conclusions. Solving this in 2023 is important.

“It’s an important matter this year, in the fight for the control of energy between these countries,” he said.

 

 

Economy and finance in 2023

According to Kathia Ramos, Director of the Finance Degree program at the Tec’s Monterrey campus, the year 2023 may not be a year of great economic growth at a national or global level. However, she does see greater use of price control tools and companies reopening.

 

Price stability through interest rates

The professor explains that central banks use the interest rate as a tool to mitigate the impact of inflation, which in 2022 reached historic levels throughout the world.

“For example, the Bank of Mexico is aiming for an inflation rate of 3%, which means for price growth to be 3%,” she said.

“The aim is for the rate to converge on that 3% so that prices no longer grow so much, but instead do so according to the central bank’s objective,” she added.

Ramos said that interest rates are expected to stabilize in 2023, to get closer to the Bank of Mexico’s objectives.

 

An increase in the use of nearshoring 

After the supply chain issues experienced around the world, whether due to health causes such as the COVID pandemic or the war between Russia and Ukraine, international trade implemented new strategies, such as nearshoring.

“It’s a strategy implemented by a company when fully or partially transferring production or operations to third parties located in other nearby countries.

“This is a great opportunity for Mexico due to its proximity to the U.S. and Canada when companies and investors are looking into nearshoring. It will be important according to what was agreed in the USMCA,” she said.

 

Peso stability against the dollar

Ramos added that the peso has been recovering against the dollar despite world crises and the foreign exchange market.

“That’s why Mexico is expected to recover by the following year.

“It’s good because we’re paying fewer pesos per dollar and this could mean that investors expect the Mexican economy to recover in the coming years,” she said. 

 

 

The international arena in 2023

Iliana Rodríguez, a professor at Tec de Monterrey in Mexico City and a specialist in international law, shared her perspective on the Russia-Ukraine war, the United States, and the development of economies around the world.

 

The impact of the Russia-Ukraine war

In 2023, the impact of the Russia-Ukraine war will be more evident, for example, to the European Union (EU) as a world supplier of different types of goods, products, manufacturing, and services.

“The consequences of the Russia-Ukraine war have no expiration date. This negotiation will have to take place in 2023 but we do not see how Ukraine is going to surrender the Donetsk region, which is what Russia is fighting for,” Rodríguez added.

 

Slow economic growth for developing countries

The professor explained that global events such as two years of the COVID-19 pandemic and the Russia-Ukraine war have had an impact by slowing down the global economy, which could affect people’s quality of life.

“The growth of developing countries and emerging economies is going to be much slower than developed states, and this will of course impact the quality of life of citizens.

“Without a doubt, there will be an increase in poverty levels, due to the decrease in wages and the increase in unemployment. There can be no optimal social development if there is no correct economic growth,” Rodríguez said.

 

Changes in the UK

According to the professor, the states that are members of the Commonwealth will be looking to stop paying some taxes to the British Crown after the death of Queen Elizabeth II.

“The famous Golden Gallon is a tax paid by the 54 members of the Commonwealth, for the entry of alcohol into their territories, the tax generated is paid to the crown and these states don’t want to pay that kind of tax anymore.

“Yes, there are going to be economic effects for the United Kingdom, it will be a difficult time, after leaving the European Union (EU) and now creating new trade agreements with the EU, the United States, and other countries,” she said.

This last point is about maintaining supply levels for different types of goods and services from other parts of the world, even as a member of NATO.

 

The coronation of King Charles III

King Charles will be crowned this May 6 at Westminster Abbey, in the first coronation of the 21st century.

Despite the fact that the monarchy has little influence on political decisions in the United Kingdom, Professor Rodríguez believes that King Charles III will face the challenge of preventing the decline of the British Crown.

“It represents national unity, and it will be sad to see Brits divided and fighting each other, which would bring about a British decline. The new king and queen consort -whether we like them or not- have a great challenge ahead of them,” she added.

 

 

Slowdown and politics in the United States

In 2023, the United States may experience a slowdown that could have an impact on the whole world, said Rodriguez.

“We must pay attention to the FED (Federal Reserve) and its interest rates,” she said.

She also said that the beginning of the year will be vital in terms of the race for the presidential candidacy for Republican candidates or the possible re-election of Joe Biden by the Democrats.

“We must pay close attention to how Ron DeSantis handles himself in Florida. He stands out as a solid presidential candidate competing against Donald Trump in the Republican Party.

“Also, Biden wants to be re-elected, but I don’t know if his health and age will allow it,” she added.

She also highlighted the importance of Donald Trump’s trial this year, what the results will be, and if the lack of a verdict will have an impact two years before the presidential election.

For the Biden administration, the professor identified challenges such as social stability and job creation.

“During the two years of the pandemic, Biden created growth in formal employability. The United States has an important populational challenge regarding how it is going to prevent the middle classes from falling into poverty.

“We must pay attention to what is happening in the U.S. Although we have 14 free trade agreements, our main trading partner is still the U.S. and if things are going badly for them, it’s a fact that Mexico is going to do badly,” said the professor.

 

 

Sports in 2023

 

“Checo” Pérez’s move to the Formula 1 Red Bull Team

The personal friction between two-time champion Max Verstappen and Mexican driver Sergio ‘Checo’ Perez could have an impact on his performance for this new season. 

Experts around the world have expressed their concerns about how the drivers will react when their teams ask them to support one another.

The Mexican has also expressed his interest in the Formula 1 championship after reaching the podium in third place last season.

The 2023 Formula 1 season will start on March 5 and will run until November 26.

This year, the Mexican Grand Prix will be held at the Hermanos Rodríguez Autodrome from October 27 to 29.

 

Women’s Soccer World Cup

This year also celebrates the FIFA Women’s World Cup, being held in Australia and New Zealand.

This will be held from July to August, hosting 32 participating teams that will play 64 matches to win the medal that has belonged to the United States team since the France 2019 World Cup.

Mexico will not participate in this World Cup.

 

The Gold Cup, a challenge for the Mexican team’s new head coach

The Mexican team will appoint a new head coach after the departure of “Tata” Martino and will participate in the CONCACAF Gold Cup, which will be held from June 26 to July 16.

 

 

 

FIBA Basketball World Cup

The International Basketball Federation (FIBA) World Cup, which is held every four years, will take place in 2023 with three hosting countries: Indonesia, the Philippines, and Japan.

32 national teams will participate in this world cup, playing 92 matches from August 25 to September 10.

The qualifiers between 16 teams from the Americas are still being played and will last till February 2023, after which we will know the seven teams who will be participating in the World Cup.

 

 

Pan American Games 

The 2023 Pan American Games will take place from October 20 to November 5, in Santiago de Chile.

The Pan American Games take place the year prior to the Olympic Games, with more than 8,000 athletes from 41 countries in the Americas competing in 39 disciplines.

The Parapan American Games take place at the same venue from November 17 to 26, with competitions in 17 disciplines.

 

Mexican and world champion in the NFL Pro Bowl Games

Diana Flores, world champion quarterback for the Mexican flag football team, has been invited to be the offensive coordinator for the American Conference (AFC) team at the 2023 NFL Pro Bowl Games.

Flores, who also plays for the Borregos Santa Fe team, is currently considered the best player in the world, alongside legends such as Peyton Manning, the team’s head coach, and defensive coordinator Ray Lewis.

What’s more, the National Football Conference (NFC) team will be coached by Eli Manning, Peyton’s brother, DeMarcus Ware will be the defensive coordinator, and Vanita Krouch the offensive coordinator.

For 2023, the Pro Bowl has been modified into skills competitions called Pro Bowl Games that will take place the week of January 29 in Las Vegas and culminate in a flag football game on February 5.

 

 

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