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The significance of personal relationships has created a system in which Mexicans are obligated to give preference to relatives and friends when hiring, contracting, procuring, and sharing business opportunities. This is referred to as the __________ system.
Foreign Exchange
The trading of one currency for another or the conversion of one currency into another currency, crucial for international trade and investment.
Labor Productivity
A measure of economic performance that compares the amount of goods and services produced with the number of hours worked.
Export Promotion
A development strategy that concentrates on producing for the export market
Import Substitution
An economic strategy aimed at reducing dependency on foreign imports through the local production of industrialized products.
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