Ok, I think I've got something. I went looking and found this
"Jewish philanthropists considered Mexican Jewry a worthy recipient of aid and, in 1891, the Baron de Hirsch Fund, along with the Jewish Colonization Association (JCA) planned large-scale Jewish agricultural settlements in Mexico, much like the kibbutzim the philanthropists were developing in Israel. However, these plans never materialized."
http://www.jewishvirtuallibrary.org/jsource/vjw/Mexico.html
So to make this post 1900 we move the date up to let's say 1901. The kibbutz turn out to be very successful and there is a larger migration of Jews to Mexico than OTL after WW1. Everything else history wise happens per OTL until Cardenas comes to power. Seeing the success of the kibbutz he uses them as the model for his land reform policies. This and a few other moves cause higher economic growth and industrialization than OTL. With the acknowledged contributions to Mexico from Jews ITTL there are no immigration limits passed against them.
In early 1938 the Mexican government gets hit on the head by the common sense fairy and realizes that Germany wants to get rid of a group of people known for being successful scientists, doctors, bankers, etc. and that these people would then be very grateful for the country that took them in. So by the time the Evian Conference comes around and everyone asks who wants the Jews Mexico raises its hand. So from then on till the start of WW2 tens of thousands of Jews from Germany and its annexed territories migrate to Mexico. The increase in the Jewish population could lead to a more active role in WW2 by Mexico.
After WW2 Mexico is a primary destination for Jewish refugees from Europe. The Mexican Miracle is greater ITTL than OTL thus creating a stable middle class that starts to ask for a more democracy. Pro-democracy demonstrations break out in the Mexico City in 1965 and the Mexican army and police forces are called out to disperse the demonstrators. The army refuses and joins the demonstrations. Army generals stage a coup and top officials in the government flee to exile. Free elections under U.N. supervision are held later in the year and are won by the first non-PRI candidate since 1946(technically 1929).
With a free liberal democracy and less corruption you could probably butterfly away the Lost Decade and the current Mexican Drug Wars. By 2010 you could have Mexico be a G8 economy.
And yes I did base this one on Zionist Uganda except not as wanked.