Word: pesos
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Dates: during 1990-1999
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Other companies that turned lean under the pressure of foreign competition are now poised to profit from a cheap peso that lowers the price of their exports. Min-Cer, a maker of wheel and drum components for tractor-trailers, plans to export 90% of its output this year. ``We are expecting a very steep drop in domestic demand, but we're working three shifts a day for exports,'' general director Carlos de la Garza says...
Despite such success stories, the widespread Mexican hardship puts enormous pressure on Zedillo, a Yale-trained economist who took office Dec. 1, to ease his austerity campaign. But that would almost certainly destroy foreign confidence in Mexico's ability to regain its footing and would thus send the peso slipping again. ``This time there's no free lunch,'' says Mauricio Gonzalez, managing partner of a Mexico City consulting firm...
Clinton Rescues the Peso...
...PESO 90-lb. weakling of world currency revived by Clinton bailout...
Clinton Rescues the Peso...