The issue with the Mexican and most Central American economies is graft and corruption at the Governmental level.
As if those things don't exist in the US....
Not even CLOSE to the same level as in Mexico, or Guatemala. Or other Central American countries. The level of corruption we have is nowhere near the same. If that's central to your point - then there's nothing else to discuss.
As for encouraging the immigrants home countries to institute change is exactly what I suggested. You have to help them build their economies which in turn will spur changes. Right now the US trade policies are anything but helpful or friendly.
OK, so how do you propose to do that? We have completely free trade, should we pay them to export their products to us? You have a nice little sound-bite, but what do suggest as action to make it "work"?
The issue with the Mexican and most Central American economies is graft and corruption at the Governmental level. Short of overthrowing those Governments - there's not a lot we can do other than what we've done (open markets - NAFTA).
Maybe we should try better border enforcement and encourage the local populace to institute change at home, rather than run away...
Remember a company called Loudeye? At one time (1999 to 2002) they were the LARGEST digital media company in the world. More music, more images than anyone else. Sure, they lost money on every stream they served, but they were HUGE, and were growing at record rates (like 2500% annual growth). At IPO (early 2000 IIRC) they were valued at $1.5 billion, making them one of the biggest "Internet companies" out there. By 2006, Nokia bought the whole thing for $60 million (about three pennies on the dollar, relative to their peak). And now? Loudeye.com doesn't exist.
LOTS of savvy investors back then, with lots of experience. But the market was irrational and thought - just like many people now - "this time it's different". Turns out it's not. At the end of the day, what matters is PROFIT, not revenue, not user base size, not "reach" or "brand awareness" or followers on Twitter. Profit. If you don't make one (or have the ability to pivot to profit within a single quarter, like Amazon) - you're not going to survive the next downturn. You're running on borrowed money, and when that stream dries up, you cannot continue on your own. You die. Or you end up like Loudeye and are purchased for a few pennies on the dollar and fade away.
That IS like 2001 - the focus on revenue, not profit. I don't know of a single unicorn ($1 billion+ valuation, pre-IPO stage) who's making profit right now. Turn off the flow of VC funds and they close - they cannot continue operations.
Back in the dot-bomb days it was the same thing. It was all about growing big, growing fast, and even if you lost money on every customer/user, you'd "make it up in volume". At the end of that era, most of the companies who had big revenues and negative cash flow either folded or scaled back so far they were sold for literally a penny on the dollar and faded away to obscurity. We'll see the same thing with the current crop of unicorns when the market crashes again. Those who can sustain themselves on existing revenues will survive. The rest will either go away completely, or end up being gobbled up by others for a fraction of their "value".
I sometimes get Mac Keynote presentations which are impossible to open on Windows. It either has to be printed out as a PDF or saved as a PPT format. Likewise with Numbers - useless as-is if you don't have OSX. I would love to know how to convert a Numbers file so that it can be opened and used on a Windows platform without using a computer running OSX.
On the other hand, Excel and PowerPoint are both available on Windows and OSX (as well as iOS and Android) and so files created with those tools pretty much open on all platforms.
"Floggings will continue until morale improves." -- anonymous flyer being distributed at Exxon USA