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Defying expectations

When the Mexican government passed a package of far-reaching legislative reforms, a second wave of international firms entered the market. Their arrival could have marked the nail in the coffin for the poorly institutionalised local market, but it didn't. Internationals may have carved a niche in Mexico, but local firms remain at the top, rising above expectations to implement a level of specialisation and institutionalisation that has transformed the market. Lulu Rumsey reports