In my July 1 Perspectives, I noted to you that looming on the horizon in Mexico were this past Sunday's July 4 elections.  I've let the dust settle a bit and, today, I want to provide you with some analysis of this past week's returns.

Going into Sunday's contests, many analysts and political commentators alike were projecting a sweep of 12 state governorships for the PRI, the party that held the presidency and nearly all political offices for 70 years, ending in 2000.

But, voters showed they have a mind of their own and proved the pundits, media and even the pollsters wrong.   For the PRI, PAN and PRD, the post-mortem on the election is, at best, a mixed bag for each party and its candidates.

So, who won?  In my home state of Texas we might sum it up this way, "All the roosters got to crow, maybe not exactly what they wanted to or as loud as they would have liked, but they all got to make some noise."

For the parties and their candidates, as well as those looking for what this might mean for Mexico's elections in 2012, my gut says things are now pretty wide open and possibilities that seemed remote prior to Sunday are now at least getting talked about.

My partner at ViaNovo, James Taylor, captures that sentiment quite well in his latest Snapshot (link). James, a long-time aide to former U.S. Senator and former Treasury Secretary Lloyd Bentsen (D-Texas), offers a unique perspective as someone who grew up in Mexico and has spent a lifetime immersing himself in both country's politics and public affairs.  Read his thoughts here .

You might also be interested in the Americas Society / Council of the Americas' analysis available here.

While these elections no doubt have the political classes chattering, in the short term, I think Mexico's business climate will remain relatively unchanged.  I don't believe we'll see any substantive change in the government's approaches on security, nor will the Legislature undertake the broad structural reform so necessary to enhance the country's competitiveness.  The overall economic recovery should continue to proceed at a pace that modestly exceeds expectations.  And, in terms of investment or expansion into Mexico, it would be wise to have solid sectoral insight.

Bottom line is that on the ground intelligence matters.  As you look to navigate the complex economic, cultural and political challenges that you may encounter as you do business here in Mexico, I hope you'll turn to White & Case or ViaNovo. And, please don't hesitate to This e-mail address is being protected from spambots. You need JavaScript enabled to view it

Sincerely,

Antonio O. Garza