sentences:  Overvaluation of the peso led to a decline in the tourism industry (which had previously compensated for failures in industry and agriculture) meant that by the early 1970s, the economy had begun to falter, and the only sure source of capital was external borrowing.Díaz Ordaz chose his Government Secretary, Luis Echeverría, to succeed him as President.Echeverría's administration (1970–76) increased social spending, through external debt, at a time when oil production and prices were surging.