Word: naftas
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...particularly jumpy, with 200% gains one year and 60% drops the next -- as we've seen, for instance, with Turkey. And the drops get far more attention than the gains. Who remembers that the recent 30% fall in the Mexican Bolsa was preceded by a 70% rise in the NAFTA year...
...which is tied to Mexico more closely than ever by NAFTA, it is important that Zedillo solve all of these problems. Mexico's long-term prospects still look good. But the peso mess raises questions about the ability of the nation's leaders to ensure the stability of Mexico, the U.S.'s second largest trading partner, where Americans hold more than half of all direct investment. Wary of appearing to be managing Mexico's affairs, the White House kept silent for most of last week, even as it worked overtime to arrange an international peso-rescue package of as much...
...lowering Mexico's inflation rate from 157% to less than 10% by last year. By 1989 the gross domestic product was growing again in per capita terms. A debt-reduction agreement the next year started foreign money flowing back in, especially from the U.S. With the passage of NAFTA, which made Mexico's prospects brighter still, the money continued to pour...
...emerging middle class was gorging on imported automobiles, televisions and other luxuries. Between 1987 and 1993, while exports grew by roughly half, imports quadrupled. Meanwhile, Mexico's poor, perhaps 40% of the population, were still waiting % for the benefits of growth. On Jan. 1, 1994, the same day that NAFTA went into effect, some of the poorest began a 12-day uprising in the remote southern highlands of Chiapas. The government arrived at a shaky peace with the rebels, but it was just the start of a year that made investors further question Mexico's stability...
...year-old, U.S.-educated economist -- speaking before 1,500 Mexican officials as well as foreign leaders as diverse as Vice President Al Gore and Cuba's Fidel Castro --pledged help for the southern Chiapas state, where economic conditions spurred the Indian unrest. And Zedillo vowed to use NAFTA "to help generate the jobs we need and raise living standards...