Abstract:The Movimiento de Regeneración Nacional（Morena）Party，which came to power at the end of 2018，became the first leftist government in Mexico’s modern history. In his inauguration speech，the new President Lopez clearly pointed out that the implementation of the neoliberal policy for more than 30 years was the main reason for the country’s low economic growth，and this has further aggravated the long-standing social problems，such as unequal income distribution and corruption. Therefore，in the next six years of the administration，it not only meant the replacement of the ruling party and its ruling ideas，but also the beginning of the fourth social transformation in Mexico. Specifically，in the field of economic policy，the governance measures based on “moral economics” will undoubtedly stimulate economic activities while gradually replacing the neoliberal program，and will draw the economic growth out of the low level. It is expected to reach an average annual growth rate of 4%. But so far，the consequences of these new measures have not been satisfactory. Not only did the local economy fail to get out of the dilemma of low-speed growth，but it also suffered huge challenges from it. In the first year of the administration，Mexico encountered the first negative economic growth since 2009. In 2020，under the impact of the COVID-19 epidemic，Mexico has become one of the countries that suffered the most severe economic recession in the world.
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