Word: pesos
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Dates: during 1990-1999
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...cheaper peso means that wages will be even cheaper in Mexico, making it profitable for more companies to begin producing materials there. In turn, the devaluation of the peso means that Mexican companies will be able to be more competitive on the world market, thus taking away some of our share of manufacturing...
...told, America is in trouble because of the lower peso. This is decidedly not the case. True, it is partly due to NAFTA that the peso has lowered, but only because NAFTA has forced Mexico to face some economic realities, not because of some plan to lure away American jobs. In fact, it is NAFTA which will enable Mexico to survive this crisis, even allowing both countries--the United States and Mexico--to come out ahead in the long...
...peso has plummeted 35 percent since its initial devaluation on December 20th, from around four pesos to the dollar to, as of January 4, about 5.4 pesos to the dollar. In truth this was not totally unexpected. The four-to-one exchange rate that President Salinas kept in place was regarded as somewhat unrealistic, and Wall Street had been waiting for an announcement of devaluation...
This expensive peso meant that jobs were somewhat scarce, and thus contributed to some of the rural unrest. When the rebels seemed to be readying for a new round of attacks, President Zedillo decided to lower the peso by about 12 percent. Then, in a surprise to almost everyone, he allowed the peso to float against the dollar. Investors were used to being warned well in advance of a devaluation. This sudden move scared them, causing them to start unloading Mexican securities. The peso continued to drop...
...plunge in the peso has caused much panic, both within the Mexican government and among outside investors. President Zedillo has released a plan which he hopes will keep inflation at around 15 percent in the short term and have growth at around 1.5 to two percent. This is quite a bit different from the four percent inflation and four percent growth that had been predicted a month ago, before the devaluation. In addition, he hopes to cut government spending by about 1.3 percent. More ominously, though, nearly $8 billion in foreign investment has fled the country since the drop. This...