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Much of the reason for the mediocre economic performance has been beyond the government's control.
The main reason for Mexico's mediocre economic performance (annual growth has averaged just 2.3% since 1982) is low productivity.
The mediocre economic growth, in turn, brought mediocre job and income growth — and the crisis more than erased those gains.
Mediocre economic performance means that income per head in the region has declined by 0.3% per year since 1998.
Instead, nationalist and authoritarian regimes have been in power for most of the past quarter-century, pursuing state-capitalist growth models that ensure only mediocre economic performance.
Punta's crisis is a product of long-term social trends as well as five years of generally mediocre economic performance in Argentina.
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That suggests officials increasingly regard mediocre global economic growth as an enduring malaise.
And while World Bank President Jim Yong Kim used his speech at the summit to describe India as "a bright spot in an otherwise mediocre global economic outlook", he also pointed to changes needed if growth is to benefit more people.
President Obama faces re-election amid a mixed and mediocre set of economic indicators.
"It is a mediocre budget in economic terms because it does not cut in areas where you have mismanagement," said Martin Redrado, chief economist at Fundacion Capital, "but the I.M.F. will be happy because it shows the government has the capacity to deliver".
The commission also offered mediocre forecasts for economic growth this year of 1.7% and 1.5% for 2008.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com