Mexico’s Tepito Black Market; Its Role in Global Piracy

Global Business

Mexico’s economy is building momentum after a slow start to the year. The country’s exports, construction, and government spending are helping growth. Its economy relies heavily on the informal sector.

60 percent of the nation works in the informal economy– mostly in street markets.

Most notorious of them is Tepito’s black market, nation’s oldest market located in the capital’s toughest neighborhood where one can get almost anything. CCTV’s John Holman who gained special access to this shadow market has this report.

Mexico\'s Informal Economy Connects Global Network

Mexico\'s Informal Economy Connects Global Network

60 percent of the nation works in the informal economy-- mostly in street markets. Most notorious of them is Tepito's black market, nation’s oldest market located in the capital’s toughest neighborhood where one can get almost anything. CCTV's John Holman who gained special access to this shadow market has this report.

 

CCTV’s Phillip Yin sits down with Eric Farnsworth, Vice President at the Council of the Americas, to find out more about Mexico’s shadow economy.

Farnsworth on Initiatives to Formalize Mexican Economy

Farnsworth on Initiatives to Formalize Mexican Economy

CCTV’s Phillip Yin sits down with Eric Farnsworth, Vice President at the Council of the Americas, to find out more about Mexico’s shadow economy.

A government program in Mexico, allows artists to donate works of art to pay off their tax debts. The program began in 1975 and since then the in-kind donations have produced an impressive art collection that is Mexico’s fourth largest. It includes works by Diego Rivera and Frida Kahlo.

The government official who directs the “Pay In-Kind” program says the idea came in 1957 from Mexican muralist David Alfaro Siqueros, who approached the secretary of finance with a proposal to keep a fellow artist out of jail for tax evasion.

CCTV’s Franc Contreras has the details.

Mexico Allows Artists to Pay Taxes with Art

Mexico Allows Artists to Pay Taxes with Art

A government program in Mexico allows artists to donate works of art to pay off their tax debts. CCTV's Franc Contreras has this.