Published: Wed, July 04, 2018
Markets | By Noel Gibbs

Corbyn congratulates Mexico’s president after winning landslide

Corbyn congratulates Mexico’s president after winning landslide

"We'll see what happens", President Trump told reporters in the Oval Office about the call earlier Monday with Mexico's president-elect, adding that the election was "better than anticipated".

"Now that he has won, he can not fail this new generation that believes in him", said Mariano Bartolini, a 29-year-old lawyer who voted for Lopez Obrador in the northwestern city of Rosarito, near Tijuana.

Pena Nieto said Sunday that the vote "should reaffirm us in our democratic vocation". "We'll be looking in the coming weeks for indications of the size and nature of any fiscal stimulus or signs of a more interventionist energy policy".

"Investors are being reassured by the speeches by Lopez Obrador", said Carlos Capistran, an economist at Bank of America Merrill Lynch. Those talks have been stalled over the Trump administration's demands for higher USA content and a "sunset clause" in the 1994 trade agreement.

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Despite Trump's hostile rhetoric, Mexico's outgoing President Enrique Pena Nieto advocated for dialogue and tried to avoid confrontations with his American counterpart. And efforts to update the North American Trade Agreement have stalled, raising concerns that negotiations could drag into next year.

Exit polls in Mexico are predicting clear victories for allies of leftist presidential candidate Andres Manuel Lopez Obrador in races for four statehouses plus the capital.

Meanwhile, members of the business and political elite who fiercely opposed Lopez Obrador's populist candidacy pledged to support his presidency in a loyal opposition, and the largely orderly vote in which his rivals conceded defeat gracefully - and quickly - was hailed as a win for democracy in the country.

"While Obrador's victory may ease concerns of political instability, there still remains a thick smog of uncertainty over Mexico's economic outlook", said Lukman Otunuga of FXTM.

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Claudia Sheinbaum of the "Juntos haremos historia" coalition party, gives her thumb up after casting her vote during the general elections in Mexico City, on July 1, 2018.

A win for the conservative National Action Party is predicted in the central highland state of Guanajuato. "I wish I could have joined the crowds packed into the Zocalo last night in Mexico City to celebrate this historic moment", said Corbyn, using both English and Spanish, in a video posted on his official Facebook page.

Only time will tell if these two non-traditional candidates will be able to build a non-traditional partnership that benefits both countries. Jaime "El Bronco" Rodriguez fought for attention with a horse-mounted "everyman" campaign and by tossing out policy bombs like his proposal to cut off the hands of public officials caught stealing. We have a border of more than 3,000 kilometres, more than 12 million Mexicans live in the United States. "But we'll be even happier when they put the presidential sash on him [in December]". However, all of his opponents also openly opposed Trump.

She says she believes Obrador can follow through on many of his campaign promises of fighting crime and corruption, increasing the availability of healthcare and education, improving working conditions, and perhaps most importantly, increasing pay.

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Lopez Obrador has repeatedly promised just that, though some businesspeople have been skeptical.

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