Cannabis, a President, and Coca Cola
Vicente Fox, former president of Mexico and current president of Coca Cola Latin America, delivered an interesting case for legalizing cannabis in the United States and Mexico at the Cannabis Business Summit & Expo in Oakland in mid-June. Mr. Fox believes the legalization of cannabis in the United States will lead to a sharp decline in organized crime and stimulate the North American economy with jobs. The Coca Cola executive envisions a world where cannabis is part of NAFTA. One week later, current Mexican President Enrique Peña Nieto signed a decree legalizing medical cannabis in Mexico.
The U.S. currently has 28 states, plus the District of Columbia, where medical cannabis is legal. There are also 8 states, plus D.C., where recreational cannabis is legal. As Mr. Fox notes, legalization of cannabis in Canada, Mexico and the U.S., coupled with a complementary NAFTA accord, could lead to a significant increase in the market.