Mexico could well have dodged a setback to its ability to compete internationally when voters in its weekend election narrowly chose the free-trader Felipe Calderón to succeed Vicente Fox as president.

The results, however, are being contested and as of yesterday, the respected Federal Electoral Institute (IFE) was still to announce the winner of Sunday's rambunctious showdown. Yet, totals from nearly all precinctsshowed that the moderate, lawyerly Mr Calderón held a 1.04 per cent lead. These figures found Andrés Manuel López Obrador, the former mayor of Mexico City and a messianic crusader for subsidies, protectionism and mega-projects, trailing by 402,708 votes.