Word: mexicanization
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Dates: during 1990-1999
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...arrested was McCaffrey's counterpart in Mexico, General Jesus Gutierrez Rebollo, a man of reputed honesty and heroism whose appointment only 10 weeks ago McCaffrey had praised effusively. That image began to fade on Feb. 6, when an informant told the Mexican Defense Secretary, General Enrique Cervantes, that Gutierrez was living in a luxury apartment "whose rent cannot be paid with the salary of a public official," a statement from Cervantes' office later said. Summoned to a midnight meeting on the same day, Mexico's drug czar suffered a heart attack when questioned about the apartment, and was ordered into...
...timing was especially unfortunate. The arrest took place less than two weeks before Clinton is to send his annual report to Congress certifying Mexico's commitment to the antidrug effort. While Clinton will not decertify Mexico, the news undercuts his claim that antidrug cooperation has improved under Zedillo. Mexican Foreign Minister Jose Angel Gurria, visiting Washington last week, was abruptly summoned to the White House for a reprimand...
According to a senior Mexican official, however, Zedillo and Cervantes had huddled after Feb. 6, deciding not to inform Washington--and thus risk Clinton's wrath--until a solid case developed against Gutierrez. Zedillo may have seen a chance to flex some badly needed muscle and make sure Mexico's generals understood that the impetus to nab Gutierrez came from him--and not the U.S. In any case, Zedillo does not much care for certification. It is, he told Time, "a rather improper procedure, not very consistent with the principles of international...
...Only a year ago, Latin America was still reeling from the effects of the 1994 Mexican-peso collapse. Now virtually all its major economies are riding a wave of free-market bullishness...
...surface for most Latin countries is their dependence on "hot" foreign money, unlike Asia, where outsiders are building factories and growth is financed out of high domestic savings. The problem: "An increase in U.S. interest rates would suck money right out of Latin America," Garten warned, "and create Mexican-style problems for all the major countries...