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News Article

Growth and GDP are Obsolete / Thinking About Reopening

By Ricardo Guzman | Wed, 05/06/2020 - 12:09

Growth and GDP should become obsolete concepts. President López Obrador suggested that economic concepts such as “growth” or “gross domestic product” should be abandoned and people must stop believing in them. “Growth and gross domestic product are terms that should be abandoned. We must look for new concepts. Instead of growth we can talk about development. Instead of gross domestic product, well-being. Instead of material aspects, think about the spiritual,” he said.

Thinking about reopening. President López Obrador said the country needs to start thinking about the reopening process after the COVID-19 pandemic. He said that today he is meeting with the Ministers of Economy, Foreign Affairs, Health, Labor and Education to assess the reopening process. “We are going to assess the plan for schools and for industrial and economic activities. We are aware of the interrelationship between production and trade with the United States,” he said.

Call to stop the spread of unverified information. Federal Public Broadcasting System head Jenaro Villamil called on the public not to spread fake news that creates panic, confusion and even prejudice against medical personnel. “The ‘infodemic’ is not only a problem of fake content, it is a challenge because of its rapid transmission,” Villamil warned. President López Obrador said social networks are being misused and lamented that while they had become a tool to counter “the authoritarian management of conventional media,” now, their wrongful use is widespread.

Twitter’s “mea culpa.” After saying yesterday that he will request a report from Twitter and Facebook on the use of bots, President López Obrador said Twitter’s response is a “mea culpa.” The president read the tweet from Mexico’s Twitter account on the subject. “’Twitter agrees with the voices that demand greater transparency about the financing received by those who carry out this type of automation.’ This is the most important thing. It is a mea culpa,” the president said.

Calls on School is Ours program beneficiaries to create jobs. President López Obrador said 25,510 schools already have received federal funds, ranging from MX$150,000 to MX$500,000, so he asked them to invest this money in construction projects for their schools to boost their local economies. “You can go to the bank, in this case it is Banco Azteca, to take out the 150, 200 or 500,000 pesos.” He said he wanted this support to become 25,510 job sources, and not to be used for buying computers or other goods.

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Click HERE for full transcript in Spanish

Ricardo Guzman Ricardo Guzman Editor