AMLO's Message to Investors

Andrés Manuel López Obrador can smell victory. He's way up in the polls and there are a variety of ways his opponents help him. Now he has written a public letter to investors.

Tengan confianza. No somos rebeldes sin causa y tenemos palabra. Sabemos cumplir nuestros compromisos. No se dejen asustar. 

He says he wants to combat corruption and to responsibly increase the role of the state in the economy without reverting to previous models (i.e. the ISI model). He promised there would be no confiscation of anything and all civil liberties would be respected. He is fine with renegotiating NAFTA but wants it to wait until after his election.

No descartamos la posibilidad de convencer al presidente Donald Trump de su despectiva y equivocada actitud contra los mexicanos. Estamos dispuestos a mantener una relación de amistad y respeto mutuo.

I don't see AMLO convincing Donald Trump of anything but it's worth a try.

He's trying to calm investors generally and Mexican currency markets, which are nervous. Is he Hugo Chávez? Or is he, as Patrick Iber has argued, more like Jimmy Carter? AMLO is in a position where if he can get some public confidence from investors, he can put it over the top if he's not there already.