What lessons did Mexico's policy makers learn from the 1980s debt crisis? What reforms did President Salinas pursue? What were his main goals?

What will be an ideal response?

Policy makers learned that their management of the macroeconomy had to improve (don't ignore budget and trade deficits); that markets need to play a larger role in resource allocation to increase competitiveness and attract capital; that ISI policies were no longer best for industrial development, and to instead follow more traditional ideas of comparative advantage. President Salinas continued working to bring the federal budget under control, increased the rate of privatization of state-owned businesses, put Mexico in line to qualify for U.S. debt relief under the Brady Plan, reduced tariffs and important licensing requirements, and proposed a free trade agreement with the United States. He hoped to tie up the domestic economic reforms Mexico had made through an international treaty and to attract foreign capital for the development of Mexico's economy.