AHC: Mexican Megastate:

The challenge, should you choose to accept it, is to have a Mexico post-1900 with a pre-1900 POD wind up controlling the entire expanse of the Viceroyalty of New Spain, preferably, but at the very least all of Central America. Including a Mexican-ruled Southwest/US West (though this, if it pushes this into ASB territory, can be discarded) if possible, but definitely including a Mexican-ruled unified Central America. How would such a super-sized Mexico fare? Would a Mexican-ruled, united set of Central America/Deep southern North American states be more prosperous/stable than OTL (it's hard to see how it could be any less so)?
 
Do the Philippines, Cuba, Santo Domingo, and Puerto Rico go with Mexico? Because getting the Philippines is rather hard.

Basically have Allende and Morelos win the independence war. By winning a quicker war and with those two as the likely first and second president, Mexico will be stable and not nearly as bankrupt. Keeping the Southwest and Central America Mexican won't be very hard at all in this scenario.

Mexico would most likely be much whiter than OTL, around Cuba. The population of Mexico and Central America were teeny-tiny until the 20th century, so lots of immigration from Europe will happen. I could see more Irish going to the USA (language), but basically every other Catholic group will probably go to Mexico in greater numbers.

Mexico will undoubtedly be more stable without having multiple wars and invasions from independence until Diaz. Mexico will also definitely be federal, like the USA (because Santa Anna's attempts at centralization destroyed it IOTL and would ITTL too). The USA won't be able to push Mexico around nearly as much as OTL: Think Canada levels.
 
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