He may be a jokester and may seem he doesn't take anyone seriously, he greatly respects those who have been around for much longer than him and can almost be marked as submissive with those who are older and are more experienced. Almost since he does have a lot of confidence and his personality gets in the way.
Mexico knows his place when interacting with countries who have been around longer than him and who are more prosperous than him. A few nations he treats with great and deep respect are Japan, (at times) China, Cuba, Sweden, Norway, Russia, Belgium, Ukraine, etc. He does have fun with them but he does respect them.
The older nations he doesn't use as much emphasis on respect are Spain, Austria, Britain, and Denmark.