For: Gabriel Spain

In the web of challenges and opportunities shaping Mexico, three essential elements – the evolution of democracy, the rise of nearshoring and the call for renewable energy – intersect at a crucial moment. The synergy between these seemingly independent pillars could be the trigger that transforms the country in the years to come.

Democracy, the foundation of a more just Mexico, gives citizens the tools necessary to decide their own destiny. Active participation not only reflects the voice of civil society, but also paves the way for inclusive policies. However, the shadow of underdevelopment poses challenges to full democracy, as inequalities threaten equal representation.

Social mobility, on the other hand, appears to be the bridge that unites underdevelopment and the vision of an egalitarian Mexico. Here, the rise of nearshoring – the strategy of foreign companies to set up operations near the US border – takes center stage. By attracting foreign investment and creating jobs, the country can boost social mobility through employment opportunities and knowledge transfer.

However, nearshoring raises a key question: sustainability. Energy demand is increasing and energy infrastructure is essential. This is where renewable energy comes in. Mexico, with its vast solar and wind energy potential, could use this momentum to lead the transition to clean energy sources and reduce its ecological footprint.

The interconnection between underdevelopment, relocation and renewable energy is deep. Modernization of energy infrastructure, supported by clean sources, would not only attract foreign investment, but also boost employment and the training of a skilled workforce. This, in turn, could alleviate underdevelopment by improving quality of life and education.

The key lies in a wise balance. Promoting democracy and social mobility requires constant investment in education and health. At the same time, offshoring must be accompanied by incentives encouraging the adoption of clean technologies and renewable energy in industrial production.

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Moving forward does not mean achieving isolated goals, but recognizing their interdependence. At this point of convergence between underdevelopment, democracy, social mobility, nearshoring and renewable energies, the challenge is to create a harmonious symphony.

Mexico’s future depends on how we balance these elements, creating synergies that transform underdevelopment into sustainable development and transforming offshoring into a lever for innovation and environmental preservation. As Mexico heads towards a promising horizon, it is in a unique position to demonstrate that the link between democracy, social mobility and renewable energy is the key to inclusive and sustainable growth.

The electoral processes of 2024 will be a test for citizens, where it will be examined whether we will be able to take advantage of the historic opportunity that nearshoring offers. It is crucial to support candidates who promote sustainable energy policies, as opposed to fossil sources. Failing in these elections would mean missing a unique opportunity and could keep us tied to underdevelopment. Are we ready to make this qualitative leap thanks to our democratic tools? I hope we are up to this challenge.

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The author has held senior positions at the World Bank IFC with investments in Latin America, Africa, Asia and Eastern Europe. He is currently a Managing Director of Iskali Capital Group (ICG), a Washington, DC-based investment bank focused on high-impact development projects in emerging markets.

Contact: [email protected]

Twitter: @Gabriel_Espana

LinkedIn: https://www.linkedin.com/in/gabrielespana/

The opinions expressed are the sole responsibility of their authors and are completely independent of the position and editorial line of Forbes Mexico.