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"Fixing" Mexico and Central America would take trillions and a half century--if ever. Without border enforcement, in that time most would have already moved here
The wall is a pork barrel, land grabbing boon doggle that can only function if it is monitored and those that are caught crossing it are penalized. Not like what his happening now.
Now, what really worked and had a truly noticeable effect was Trump threatening, what the Mexicans believed to be very real and credible, to levy import duties on all Mexican exports if the rate of illegal crossings, both Mexican and OTM, was not reduced. This forced Mexican enforcement of both tightening up their southern border and also them stopping illegal exits on their Northern border. This was on their dime and via their efforts.
Within days of this threat Mexican Immigration vans and National Guard transports were running up and down the border highways raiding "safe and flop houses" and word was put out to the crime groups that things were to stop. Not all stopped, but a good chunk did. This freed up agents on the US side and reduced the overwhelming numbers that had been crossing. Trump lost the election and this stopped.
What has to be changed is the Mexican form of government (as well as Central America, but mostly Mexico), and the US could force those changes over time via an economic sword of Damocles with nothing more than changes in import regulations and enforcement. The rub in that deal is that it will affect the US as well, for a period of time, but so does spending billions of dollars on a BS wall all while taking private land as well as letting hundreds of thousands of illegals in.
The years of letting Mexico "slide" is a big portion of the root cause of this mess. But make no mistake about it, lots of US interests have profited greatly in and due to Mexico so the status quo is very accepted.