America in gross domestic product and the third-highest ranking in Mexico. In its 2007 survey entitled "Cities of the Future," FDi magazine ranked Guadalajara highest among major Mexican cities and designated Guadalajara as having the second strongest economic potential of any major North American city behind Chicago. FDI ranked it as the most business-friendly Latin American city in 2007. The same research noted Guadalajara as a "city of the future" due to its youthful population, low unemployment and large number of recent foreign investment deals; it was found to be the third most business-friendly city in North America. In 2009 Moody's Investors Service assigned ratings of Ba1 (Global Scale, local currency) and A1.mx (Mexican national scale). During the prior five years, the municipality's financial performance had been mixed but had begun to stabilize in the latter two years. Guadalajara manages one of the largest budgets among Mexican municipalities and its revenue per capita indicator (Ps. $2,265) places it above the average for Moody's-rated municipalities in Mexico. The city's economy has two main sectors. Commerce and tourism employ most: about 60% of the population. The other is industry, which has been the engine of economic growth and the basis of Guadalajara's economic importance nationally even though it employs only about a third of the population. Industries here produce products such as food and beverages, toys, textiles, auto parts, electronic equipment, pharmaceuticals, footwear, furniture and steel products. Two of the major industries have been textiles and shoes, which are still dynamic and growing. Sixty percent of manufactured products are sold domestically, while forty percent are exported, mostly to the United States. This makes Guadalajara's economic fortunes dependent on those of the U.S., both as a source of investment and as a market for its goods. The city has to compete with China, especially for electronics industries which rely on high volume and low wages. This has caused it to move toward high-mix, mid-volume, and value-added services, such as automotive. However, its traditional advantage of proximity to the U.S. market is one reason Guadalajara stays competitive. Mexico ranked third in 2009 in Latin America for the export of information technology services, behind Brazil and Argentina. This kind of service is mostly related to online and telephone technical support. The major challenge this sector has is the lack of university graduates who speak English. Technology The electronics and information technology sectors that have nicknamed