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00:00We've been offended by his language but mostly we're worried about his thinking because thinking in relation to trading his thinking in relation to the economy and how it works he was thinking about Dax and imposing duty to imports and this is something that already happened in the United States A hundred years several forcing them the Hoover propose the same policies to tax imports and to limit the efforts of corporations to go and invest abroad to keep themselves competitive and resolve depression Matt Miller Depression of 1929 was the result of those policies. But that's rhetoric for now and of course it's all hypothetical at this point. It's Mexico's government paying too much attention to that and not enough to some of the issues going on in its own backyard. Who is going to assure us that is just reported in Mexico within that or is content. The forum is substance so we better watch out and worry and especially the American people. That's why I've been telling them wake up . He's a false prophet. He's proposing ideas that will not work better in the country and instead of saving jobs they're going to lose jobs. In Mexico we import from the United States . Seven hundred and fifty thousand billions of U.S. dollars. That means six percent of all the jobs in the United States to American citizens. So we are comfortable with Mexico for Chen million jobs for U.S. citizens. So he's not we simply do the things on the right context. Certainly there's a lot at stake here. Isn't she a distraction from issues of corruption scandals half of what is full of corruption scandals. Well we do have corruptions. Yeah but as anybody else but mainly Mexico's derives from the huge the mammoth drug consumption in the United States because it makes you a we don't consume drugs we don't produce drugs. We just cut into the in between the mammoth consumer market in the north and the producers in the south. And so here we are with this big big problem. And yes those cartels those cartel lords race here in the US market 55 billion U.S. dollars a year which they used to grow which they used to hire get to work for them which they used to buy weapons and ammunitions here. So you're not in a sense has to decide whether legalizing drugs or whether in implementing a policy to prevent drug consumption would stay because we are paying the price and we don't deserve that. Certainly that's a big discussion to have. But I wonder is corruption so endemic to Mexico's state and local governments and police that the drug cartels essentially have all the leverage right to call the shots. I don't think that's our world's great concern but it's not true. We do cover the degrees of corruption not that I cannot deny that. But in my government with absolutely transparent. We created the best law on information to the public about anything that goes on with government. It's not the main Mexican problem. The problem is this war on drugs that came to be because of the huge market in the United States .

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Vicente Fox on Trump: We're Offended and Worried

Former Mexico President Vicente Fox says Donald Trump is "a false prophet" whose proposals will result in the loss of jobs, instead of saving jobs. He speaks to Bloomberg's Scarlet Fu at the Milken Institute Global Conference. (Source: Bloomberg)

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