Mexico has a significantly high foreign debt. Its land is rich, but much of it is difficult to cultivate. Despite the prosperity of its oil industry, Mexicos economic troubles are severe.
Mexicos proximity to the United States has led to serious territorial disputes; the immediate cause of the Mexican War of the 1840s was the annexation of Texas by the United States.
From 1929 until the late 1990s, the Institutional Revolutionary Party (PRI) dominated Mexican politics, winning most elections by a combination of popular appeal, corruption, and the liberal distribution of public jobs. In 2000, for the first time, a candidate of a rival party won Mexicos presidency.