Word: peso
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Dates: during 2000-2009
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...muscles to work," Moreno writes, using terms that could be found in many Christian sermons preached from Mississippi to Brazil. But on the next page, there's a switch to phrases strikingly similar to those coined by revolutionary Emiliano Zapata. "It is better to be a master of one peso than a slave of two; it is better to die fighting head on than on your knees and humiliated; it is better to be a living dog than a dead lion...
...process started 15 years before, after a horrendous 1985 earthquake that left 10,000 dead in Mexico City. The PRI's response to that tragedy was appalling, and it sowed the opposition anger that proliferated as the jaded ruling party kept making blunders, including a disastrous 1994 peso crash. In the next presidential election, six years later, Mexico's Berlin Wall finally fell...
...earthquake shook up more than the capital city. It exposed the corrupt political system and gave heart to a remarkably talented (if occasionally arrogant) set of technocrats. Forgiving the mid-1990s, when the peso had to be rescued by the Clinton Administration, the Mexican economy has shown great resilience in the past 20 years as Mexico oriented itself to the outside world, joined the World Trade Organization and signed the North American Free Trade Agreement with the U.S. and Canada. Even in the first years of this decade, when the shift of global manufacturing to China threatened to derail Mexican...
...With the world economy being so unstable and the Mexican peso falling, it is crazy to get into this protectionist trade dispute now," says Representative Edmundo Ramirez of Mexico's former ruling Institutional Revolutionary Party. "Our governments should be sitting down and negotiating solutions, not slapping on retaliatory measures." (See pictures of the Great Wall of America rising on the Mexican border...
However, while Mexicans are normally pleased to celebrate any chance to hit back against the imperialist gringos, there was little popular applause for the latest measures. As the world economy is suffering, the Mexican peso has lost about 40% of its value against the dollar in the past four months. That means higher prices for just about any product imaginable in the supermarkets and stores of Mexico, which imported $151 billion worth of goods from its northern neighbor last year. The new tariffs mean the prices will go up even further. "This will hit poor people, whatever the government says...